Sovereign Asset and Liability Management in Emerging Market Countries: The Case of Uruguay

Author/Editor:

André Amante ; Phillip Anderson ; Thordur Jonasson ; Herman Kamil ; Michael G. Papaioannou

Publication Date:

December 27, 2019

Electronic Access:

Download PDF. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary:

This paper provides an overview of the strategic and operational issues as well as institutional challenges, related to the implementation of the Sovereign Asset and Liability Management (SALM) approach. Application of an SALM framework allows the authorities to identify and monitor sovereign exposure mismatches; increase resilience to foreign currency and interest rate risks; and thus, strengthen financial stability; and implement more cost-effective management of the public-sector debt. The analysis is based on emerging market (EM) countries and illustrated by the experience of Uruguay, using data as of end-2017.

Series:

Working Paper No. 19/290

Subject:

English

Publication Date:

December 27, 2019

ISBN/ISSN:

9781513511696/1018-5941

Stock No:

WPIEA2019290

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

40

Please address any questions about this title to publications@imf.org