Opinion/Debt Management

How a free debt manager will free Indian cb

According to an article from The Economic Times, published Wednesday 7 March, once an independent DMO comes into existence in India, management of both internal and external debt is expected to move away from the central bank.

Comment: Transparency in EU bond markets

As a rule, transparency in government activities, in regulation and in financial markets is encouraged and regarded as a positive thing. But when it comes to the way governments sell bonds, the authors of a recent study suggest that increasing…

Comment: Central bank governance

Seigniorage revenues have become more important to central banks as many of these institutions are feeling the squeeze financially. How these revenues are spent depend critically on sound governance structures and independence. These are the conclusions…

Comment:Government debt offices gear up for change

Government debt offices play a vital role in managing the cost and risk of government borrowing and in the development of the domestic financial system, but they are frequently overlooked. A recent survey looks at the trends towards concentrated…

Comment: Zimbabwe's mystery repayment

Two weeks ago the Zimbabwean government managed to avoid expulsion from the IMF by paying off a large chunk of its debt to the Fund. However, the source of the forex-depleted government's finances remains a mystery.

Comment: Indonesia and the IMF

The Indonesian finance minister, Sri Mulyani Indrawati, has indicated that the country is considering the early repayment of its outstanding debt to the IMF. The prospect of early repayment raises some interesting questions and policymakers are likely to…

Bond market bubble?

It is time to push beyond the "global savings glut" argument and the closely related "excess global liquidity" argument to explain the extraordinarily low level of both real and nominal long-term interest rates, according to this article published on…

Comment: Nigeria's CB wins praise

In the statement accompanying its BB minus long-term credit rating for Nigeria, the rating agency Fitch this week applauded policymakers' "strong commitment to economic reform", including "measures to rationalise the banking system" implemented by the…

Comment: Brazil's surprise IMF settlement

Earlier this week Brazil announced that it plans to pay off its entire $15.5 billion in debt to the IMF by the end of the month. In doing so, the country will meet its outstanding IMF obligations two years ahead of schedule.

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