Professionalizing public debt management
Despite growing optimism in the current economic landscape, five years after the financial crisis swept upon us, debt management remains central to the development agenda. While 2013 saw significant growth in international bond issuance by emerging markets, rising borrowing cost in the wake of falling capital availability – following healthier growth in developed countries and tighter monetary policy (QE) – cannot be ignored. Many emerging nations are opting for PPP as an appealing avenue to finance infrastructure. Other innovative sources of borrowing are being contemplated by governments keen to boost economic welfare.
Internationally, new rules and initiatives to improve governance and mitigate risks that nearly crippled the financial architecture few years ago are gradually taking shape. Debt managers must stand ready to adapt to this evolving environment and embrace new tools, techniques and integrated solutions to manage public sector liabilities.
Debt managers, economists, analysts and accountants from debt management offices and departments, ministries of finance, planning and economy at national and sub-national level, central banks, parastatals and financial market regulators.