Designing Legal Frameworks for Public Debt Management
July 2, 2015
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Summary
Sustainable public debt has gained renewed attention as countries implement fiscal consolidation measures in the aftermath of the global financial crisis. Sound public debt policies and debt management practices require robust legal underpinnings. Complex legal issues however arise in the design of the legal framework, and tradeoffs are required in many instances. This paper analyzes key features of modern public debt management legal frameworks, drawing from examples in advanced, emerging, and frontier markets. It aims to provide guidance for countries that seek to review and strengthen their public debt management legal frameworks.
Subject: Asset and liability management, Debt limits, Debt management, Government debt management, Legal support in revenue administration, Public debt, Public financial management (PFM), Revenue administration
Keywords: Africa, borrowing authority, county government entity, Debt limits, Debt management, fiscal policy, Government debt management, government lending, Government loans and guarantees, Legal framework for Public Debt Management, Legal support in revenue administration, local government, National Debt, payment obligation, public finance, Sovereign Debt, terms and conditions, WP
Pages:
57
Volume:
2015
DOI:
Issue:
147
Series:
Working Paper No. 2015/147
Stock No:
WPIEA2015147
ISBN:
9781513529561
ISSN:
1018-5941
