Debt Management
Mexico's Ortiz - crisis shows how far we've come
Ability to cope with turmoil is a sign of success of monetary-policy reform, says Bank of Mexico governor
Ortiz on governance, risk and Mexico's progress
The Bank of Mexico governor and BIS chairman discusses central bank governance, monitoring systemic risk and why Mexico has managed to avoid a financial meltdown despite being hard hit by the crisis
Rating agencies: regulate or downgrade?
In the aftermath of the financial crisis, the actions of ratings agencies cannot remain unchecked, argues Ludek Niedermayer, a former vice governor at the Czech National Bank
Sell yuan bonds: China banker to US, World Bank
Guo Shuqing says Washingtom, World Bank should offer yuan-denominated bonds
Your assets are safe, Geithner tells China
Timothy Geithner, US treasury secretary, sought to reassure the US's largest foreign creditor regarding its investments in dollar-denominated government debt.
Sovereign risk exacerbates procyclicality
The risk premium associated with the possibility of sovereign default plays a key role in the procyclicality of fiscal policy in emerging economies, finds a new paper from the Richmond Federal Reserve.
Emerging markets should watch fiscal positions
Emerging-market economies should pay off their debts sooner rather than later, posits new research from the Bank of England.
SNB offers dollar-denominated bills for UBS loan
The Swiss National Bank (SNB) announced on Monday that it will issue its own bills denominated in dollars.
Fed floats bond issuance
The Federal Reserve is considering issuing its own bonds as a means to absorb the liquidity with which it has flooded markets as well as for fundraising purposes.
Denmark's Thomsen on the rise in debt issuance
Higher debt issuance from sovereign issuers is to be expected, Jens Thomsen, a member of the board of governors of the National Bank of Denmark, has said.
Emerging market policy cited for smaller spreads
Better macroeconomic policies are behind the low spreads on emerging markets' sovereign debt, a new paper published by the Bank of Canada finds.
Fiscal discipline an essential investor benchmark
A country's primary balance - its fiscal balance minus any interest payments - is an important signalling device to investors regarding sovereigns' commitment to repay debts, finds new research form the Central Bank of Turkey.
Sri Lanka's sovereign rating lowered
Sri Lanka's sovereign rating was lowered by Fitch Ratings one notch to B-plus on 3 April, because of rising inflation, a worsening trade balance and a rising fiscal deficit.
India's Reddy warns on debt risks
India's high consolidated public debt to GDP ratio is a major area of vulnerability, said Y.V. Reddy, the governor of the Reserve Bank of India.
Public debt management: the Sri Lankan experience
The Central Bank of Sri Lanka has published details of its role in managing the public debt, which it has undertaken since its inception in 1950.
Weak integration in Asian bond markets
Integration in Asian bond markets has been weak and has stalled since 2003, argues a research paper from Hong Kong's central bank.
Local currency bond markets risks lower
Exposure to currency depreciation risk has declined in most emerging market economies, according to a report on "Financial stability and local bond markets" published on 9 July by the Committee on the Global Financial System.
Chicago Fed on subprime mortgages
A recent article by the Chicago Federal Reserve argues that the subprime mortgage market is facing substantial problems, as measured by delinquency rates, while the prime mortgage market is experiencing more typical delinquency rates, close to historical…
IMF paper on public debt markets
This IMF paper reviews the state of domestic public debt markets in Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama.
HKMA's Yam: $3bn note is cost-efficient platform
Joseph Yam, chief executive of the Hong Kong Monetary Authority, said on 27 June that a new multi-currency medium term note programme issued by the Hong Kong Mortgage Corporation "will provide a platform for the HKMC to broaden its investor base and…
HKMA's Yam on renminbi bonds
Renminbi-denominated bonds in Hong Kong are part of a bigger picture for both Hong Kong and the Mainland, writes Joseph Yam.
SARB's Guma on SA debt market
In this speech, Dr X.P. Guma, the Deputy Governor of the South African Reserve Bank argues that sovereign debt markets will need to address the inability of adjacent emerging and developing to raise financing in their own currencies beyond their own…
IMF's Lipsky on debt defaults
In the speech 'Learning from experience: Debt defaults and lessons from a decade of crises' given on 10 May John Lipsky of the IMF said in the current relatively benign global environment, not many emerging market countries have needed to borrow from the…
Fundanga on local bond market developments
In the speech 'Local bond market developments in Zambia' given on 4 April Caleb Fundanga of the Bank of Zambia said what we as Bank of Zambia can do is to understand the dynamics of the debt market, how it is evolving, and whether it is sufficiently…