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1. Introduction
2. Outline (1)
3. Debt composition is changing...
4. ...in all regions
5. External vs. domestic public debt
6. Focus on the external/domestic debt dichotomy?
7. Debt composition matters, but we need more data
8. Outline (2)
9. Risks of sovereign finance, how to make debt safer
10. The risks of sovereign finance (1)
11. Public debt around the world
12. The risks of sovereign finance (2)
13. Public debt and sovereign ratings
14. The risks of sovereign finance (3)
15. Why is debt structure important?
16. The unexplained part of public debt (1)
17. The unexplained part of public debt (2)
18. The unexplained part of public debt (3)
19. The unexplained part of public debt (4)
20. What explains the "Unexplained part of debt" (1)
21. What explains the "Unexplained part of debt" (2)
22. Debt management can reduce risks
23. The risks of sovereign finance - summing up
24. Other sources of risk
25. Outline (3)
26. How to make debt safer: domestic policies
27. The international market: large but volatile
28. Reactions in response to these vulnerabilities
29. Vulnerabilities after switching to domestic debt (1)
30. Vulnerabilities after switching to domestic debt (2)
31. Policymakers should not be too complacent
32. Outline (4)
33. How to make debt safer: international policies (1)
34. How to make debt safer: international policies (2)
35. Market development of financial innovations
36. Dedollarize official lending
37. International policies - summing up
38. Borrow less
39. Borrow in a smarter way
40. One more view
41. Outline (5)
42. Domestic bond markets in EMs
43. Composition - not all regions are the same
44. Factors affecting the domestic bond market
45. Microstructure: the plumbing of the market (1)
46. Microstructure: the plumbing of the market (2)
47. Government and private bond markets interactions
48. Institutional investors
49. The domestic market: summing up
50. Outline (6)
51. When countries cannot pay
52. Low income countries
53. Emerging market countries
54. Background material
55. Additional references
56. Thank you!

Topics Covered

• External versus domestic public debt: definitions and recent evolution
• The risks of sovereign finance
• Domestic and international policies for reducing the risks of sovereign finance
• How to build domestic bond markets
• How to deal with debt crises

Links

Series:

• Government Debt Management

Categories:

• Finance, Accounting & Economics

Talk Citation

Publication History

• Published on July 1, 2009