## Keynote Address at 17th IMF Public Debt Management Forum

_IMF News, June 19, 2019_

## Source details

**Canonical URL:** [Keynote Address at 17th IMF Public Debt Management Forum](https://www.imf.org/en/news/articles/2019/06/19/sp061919-seventeenth-imf-public-debt-management-forum)

## Other formats

- [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)

## Bibliographic details
- Authors: Tobias Adrian
- Published: June 19, 2019

---

### Event and purpose
- 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:
  - ensuring the smooth funding of governments;
  - maintaining the availability of attractive savings vehicles;
  - promoting the efficient functioning of financial markets.
- 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 burdens — key findings
- 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.

### Analytical focus and agenda items to be explored
- 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.

### Contact (as provided in the source)
- IMF Communications Department, MEDIA RELATIONS — Phone: +1 202 623-7100 — Email: MEDIA@IMF.org

*Keynote Address at 17th IMF Public Debt Management Forum — Tobias Adrian — June 19, 2019*

---

## Content in this bundle

- **Staff Paper**
  - [Staff Paper (Markdown version)](/-/media/files/news/speech/2019/sp061919-keynote-address-at-17th-imf-public-debt-management-forum.pdf.md){rel="alternate" type="text/markdown"}
  - [Staff Paper (PDF)](/-/media/files/news/speech/2019/sp061919-keynote-address-at-17th-imf-public-debt-management-forum.pdf){rel="external" type="application/pdf"}

---

## References

- [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)

_Source: https://www.imf.org/en/news/articles/2019/06/19/sp061919-seventeenth-imf-public-debt-management-forum_