Product DescriptionAs the European Union (EU) launches its common currency (the Euro), Central European (CE) nations are searching for best practices in public liability management in order to smooth their integration into the EU. This work addresses that concern, examining borrowing policies, institution building, portfolio optimization, and the implications of the Euro and EU accession for public debt management. To help the CE countries achieve their goals, the World Bank and the European Commission held a two-day seminar in Brussels in mid-December 1997. European Union Accession presents the papers delivered at that seminar which was attended by all ten EU applicant countries: Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, the Slovak Republic, and Slovenia. The workshop pursued the following goals: 1. to investigate the implications of the launch of the Euro and of the EU accession on fiscal prudence and on the borrowing strategies of CE countries; 2. to facilitate the dissemination of the best public liabilities management techniques developed worldwide; and 3. to explore plausible arrangements to promote prudent public liabilities management in Central Europe through a regional expertise network.
This PSA was one of four national spots RHED Pixel produced for the NFCC to address the sometimes confusing world of debt advising. RHED Pixel handled all aspects of the spots, including scripting, casting, location scouting, shooting and all post production.
Product DescriptionPrior to 1975, the Lebanese economy was one of the most dynamic in the Middle East. This, however, came to an end with the beginning of the Civil War (1975-1990), which exacted a heavy toll in both human and material terms, and resulted in fundamental changes in the economy. After the 15-year-long conflict, Lebanon faced formidable economic challenges in the context of severe fiscal imbalances and a particularly difficult external environment. The government deficit and real interest rates have been extremely high; the public debt ratio has risen sharply to unsustainable levels, and real GDP growth has slowed. Given the debt cost and debt level dynamics that had transpired, the debt management capabilities of the government took longer than expected to develop to acceptable standards. In the meantime, spending beyond the available means continued unabated. “Public Debt Management for Lebanon: Situation Analysis and Strategy for Change” questions the sustainability of Lebanon’s public debt and asks some highly important questions. Is Lebanon on the right path of sound debt management strategy or is a crisis ultimately inevitable? What is the most effective debt management strategy? What is the relation of the debt service to debt, and at what rate does it increase the debt level? Who is benefitting from the high rates on the debt service? And, most importantly of all, how can the public debt be reduced?
Product DescriptionA ruling party decides each of two periods on the level of public goods which it finances by means of taxation and internal debt. The debt has to be honoured by the government of the second period. Between the two periods elections take place, which may change the ruling party. The book analyzes the fiscal decision of the first government which aims to maximize the long run utility of its representative voter. Conditions under which the government uses debt strategically in order to stay in power are identified. It is also shown how the fiscal decisions hinge on the populations’ political structure and its beliefs about the future government.
Product DescriptionThis book from the Centre for Economic Policy Research collects theoretical, applied and historical research on the welfare economics of public debt; how inappropriate debt management can lead to funding crises; capital levies; debt consolidation; U. S. public debt history; political influences on debt accumulation; trade-offs between indexation and maturity; and confidence effects in a stochastic rational expectations framework.
Product DescriptionThis paper discusses the changes in Public Debt Management under European Monetary Union (EMU) and their implications for Monetary Policy. The paper makes important policy recommendations concerning the functioning of primary markets and calls for action by the European Commission to promote co-operation and co-ordination of issuing policies across EMU Member Sates.
Product DescriptionThis volume is produced from digital images created through the University of Michigan University Library’s large-scale digitization efforts. The Library seeks to preserve the intellectual content of items in a manner that facilitates and promotes a variety of uses. The digital reformatting process results in an electronic version of the original text that can be both accessed online and used to create new print copies. The Library also understands and values the usefulness of print and makes reprints available to the public whenever possible. This book and hundreds of thousands of others can be found in the HathiTrust, an archive of the digitized collections of many great research libraries. For access to the University of Michigan Library’s digital collections, please see http://www. lib. umich. edu and for information about the HathiTrust, please visit http://www. hathitrust. org
Product DescriptionThese guidelines assist policymakers at all levels in considering reforms to strengthen the quality of their public debt management and reduce their country’s vulnerability to international financial shocks. Vulnerability is often greater for smaller and emerging market countries because their economies may be less diversified, have a smaller base of domestic financial savings and less developed financial systems, and be more susceptible to financial contagion through the relative magnitudes of capital flows. As a result, these guidelines should be considered within a broader context of the factors and forces affecting a government’s liquidity more generally and the management of its balance sheet.
Product DescriptionThis accompanying document to the “Guidelines for Public Debt Management,” which the IMF and the World Bank copublished in 2001, contains sample case studies that illustrate how a range of countries from around the world and at different stages of economic and financial development are developing their debt management capacity in a manner consistent with the guidelines. The experience of these countries is discussed in this publication and should offer some useful and practical suggestions to other countries, as they strive to build their own capacity in public debt management.
Product DescriptionThis volume is produced from digital images created through the University of Michigan University Library’s large-scale digitization efforts. The Library seeks to preserve the intellectual content of items in a manner that facilitates and promotes a variety of uses. The digital reformatting process results in an electronic version of the original text that can be both accessed online and used to create new print copies. The Library also understands and values the usefulness of print and makes reprints available to the public whenever possible. This book and hundreds of thousands of others can be found in the HathiTrust, an archive of the digitized collections of many great research libraries. For access to the University of Michigan Library’s digital collections, please see http://www. lib. umich. edu and for information about the HathiTrust, please visit http://www. hathitrust. org
