{ "title": "Keynote Address at 17th IMF Public Debt Management Forum", "publication": "IMF News, June 19, 2019", "sourceUrl": "https://www.imf.org/en/news/articles/2019/06/19/sp061919-seventeenth-imf-public-debt-management-forum", "canonical": "https://www.imf.org/en/news/articles/2019/06/19/sp061919-seventeenth-imf-public-debt-management-forum", "overlayPath": "/en/news/articles/2019/06/19/sp061919-seventeenth-imf-public-debt-management-forum/index.md", "summary": "Speaker: Tobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department, IMF", "authors": [ "Tobias Adrian" ], "publishDate": "2019-06-19", "sections": [ { "heading": "Event and purpose", "content": "- Speaker: Tobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department, IMF\n- Location and date: Tokyo, Japan — June 19, 2019\n- Co-host: Japanese Ministry of Finance\n- Forum objective: bring together public debt managers, other government and international agencies, and private sector executives to exchange views on current challenges and opportunities in the sovereign debt capital markets.\n- Operational goals emphasized:\n - ensuring the smooth funding of governments;\n - maintaining the availability of attractive savings vehicles;\n - promoting the efficient functioning of financial markets.\n- Conference structure note: the first session is focused on near term and conjunctural conditions; the keynote offers thoughts on longer term and structural issues." }, { "heading": "Debt burdens — key findings", "content": "- Debt levels are high and likely to remain high.\n- Debt outstanding is very large in many Advanced Economies (AEs) and some Emerging Markets (EMs).\n- The global financial crisis led to a sharp increase in government debt as the public sector took over private debt and fiscal policy was switched to an expansive mode.\n- Some countries have managed to reverse the increase, but an upward shift in debt is found across much of the OECD and major emerging market countries.\n- The ratio of general government debt to GDP has gone up markedly even in countries such as China, Australia and Vietnam.\n- Implication: there is plenty for debt managers to do to anticipate possible strains in debt markets and to adapt to longer-term trends." }, { "heading": "Analytical focus and agenda items to be explored", "content": "- Elements of the economic and market outlook relevant to debt markets and debt management.\n- Structural changes occurring in areas such as regulation and technology.\n- How the public and private sectors can foster beneficial innovation." }, { "heading": "Contact (as provided in the source)", "content": "- IMF Communications Department, MEDIA RELATIONS — Phone: +1 202 623-7100 — Email: MEDIA@IMF.org\n\nKeynote Address at 17th IMF Public Debt Management Forum — Tobias Adrian — June 19, 2019\n\n---\n\n Content in this bundle\n\n- Staff Paper\n - Staff Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - Staff Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- Tobias Adrian\n- People's Republic of China and the IMF\n- Australia and the IMF\n- Japan and the IMF\n- Vietnam and the IMF\n- Speeches\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2019/06/19/sp061919-seventeenth-imf-public-debt-management-forum" } ], "bullets": [ "[Markdown version](/en/news/articles/2019/06/19/sp061919-seventeenth-imf-public-debt-management-forum/index.md)", "[Structured JSON version](/en/news/articles/2019/06/19/sp061919-seventeenth-imf-public-debt-management-forum/index.json)", "[Bundle manifest](/en/news/articles/2019/06/19/sp061919-seventeenth-imf-public-debt-management-forum/bundle-manifest.json)", "Authors: Tobias Adrian", "Published: June 19, 2019", "Speaker: Tobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department, IMF", "Location and date: Tokyo, Japan — June 19, 2019", "Co-host: Japanese Ministry of Finance", "Forum objective: bring together public debt managers, other government and international agencies, and private sector executives to exchange views on current challenges and opportunities in the sovereign debt capital markets.", "Operational goals emphasized:", "Conference structure note: the first session is focused on near term and conjunctural conditions; the keynote offers thoughts on longer term and structural issues.", "Debt levels are high and likely to remain high.", "Debt outstanding is very large in many Advanced Economies (AEs) and some Emerging Markets (EMs).", "The global financial crisis led to a sharp increase in government debt as the public sector took over private debt and fiscal policy was switched to an expansive mode.", "Some countries have managed to reverse the increase, but an upward shift in debt is found across much of the OECD and major emerging market countries.", "The ratio of general government debt to GDP has gone up markedly even in countries such as China, Australia and Vietnam.", "Implication: there is plenty for debt managers to do to anticipate possible strains in debt markets and to adapt to longer-term trends.", "Elements of the economic and market outlook relevant to debt markets and debt management.", "Structural changes occurring in areas such as regulation and technology.", "How the public and private sectors can foster beneficial innovation.", "IMF Communications Department, MEDIA RELATIONS — Phone: +1 202 623-7100 — Email: MEDIA@IMF.org", "**Staff Paper**", "[Tobias Adrian](http://www.imf.org/external/np/bio/eng/ta.htm)", "[People's Republic of China and the IMF](http://www.imf.org/external/country/CHN/index.htm)", "[Australia and the IMF](http://www.imf.org/external/country/AUS/index.htm)", "[Japan and the IMF](http://www.imf.org/external/country/JPN/index.htm)", "[Vietnam and the IMF](http://www.imf.org/external/country/VNM/index.htm)", "[Speeches](https://www.imf.org/en/news/searchnews)", "[PRESS CENTER](http://presscenter.imf.org/)", "[https://www.imf.org/en/home](https://www.imf.org/en/home)" ], "related": [ { "title": "Staff Paper", "role": "paper", "sourceUrl": "https://www.imf.org/-/media/files/news/speech/2019/sp061919-keynote-address-at-17th-imf-public-debt-management-forum.pdf", "summary": { "path": "/-/media/files/news/speech/2019/sp061919-keynote-address-at-17th-imf-public-debt-management-forum.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/-/media/files/news/speech/2019/sp061919-keynote-address-at-17th-imf-public-debt-management-forum.pdf", "mime": "application/pdf" } } ], "alternates": { "markdown": "/en/news/articles/2019/06/19/sp061919-seventeenth-imf-public-debt-management-forum/index.md", "json": "/en/news/articles/2019/06/19/sp061919-seventeenth-imf-public-debt-management-forum/index.json", "bundleManifest": "/en/news/articles/2019/06/19/sp061919-seventeenth-imf-public-debt-management-forum/bundle-manifest.json" }, "generatedAtUtc": "2026-09-25T22:53:07.431Z" }