Public Debt Management in India PDF Download

Author: Kiran Barman
Publisher:
ISBN:
Category : Debts, Public
Languages : en
Pages : 236

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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 149832892X
Category : Business & Economics
Languages : en
Pages : 39

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Book Description
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Author: International Monetary Fund,
Publisher: International Monetary Fund
ISBN: 1498330665
Category : Business & Economics
Languages : en
Pages : 40

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Book Description
The Revised Guidelines for Public Debt Management have been developed as part of a broader work program undertaken by the IMF and the World Bank to strengthen the international financial architecture, promote policies and practices that contribute to financial stability and transparency, and reduce countries external vulnerabilities.

Author: Charan Singh
Publisher: Springer
ISBN: 9788132238782
Category : Business & Economics
Languages : en
Pages : 211

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Book Description
This book examines the objectives of public debt management and the re-emerging issue of separating monetary policy formulation from fiscal and debt management. The recent Great Recession has resulted in a rethink of the objectives and working of macroeconomics, and in many countries, including India, has led to the scope of fiscal operations being expanded and debt-to-GDP ratios increasing significantly. Consequently, debt management has encountered considerable difficulties, and the need for coordination between monetary and debt management has assumed greater significance. The book discusses the important issue of the independence of central banks and the need for coordination between debt managers, monetary authorities and finance ministries if debt operations are separated from monetary management.

Author: Charan Singh
Publisher: Springer
ISBN: 8132236491
Category : Business & Economics
Languages : en
Pages : 227

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Book Description
This book examines the objectives of public debt management and the re-emerging issue of separating monetary policy formulation from fiscal and debt management. The recent Great Recession has resulted in a rethink of the objectives and working of macroeconomics, and in many countries, including India, has led to the scope of fiscal operations being expanded and debt-to-GDP ratios increasing significantly. Consequently, debt management has encountered considerable difficulties, and the need for coordination between monetary and debt management has assumed greater significance. The book discusses the important issue of the independence of central banks and the need for coordination between debt managers, monetary authorities and finance ministries if debt operations are separated from monetary management.

Author: R. Gandhi
Publisher:
ISBN:
Category :
Languages : en
Pages : 6

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Book Description
India's expansionary fiscal policy during the recent crisis resulted in higher government borrowing through 2008-09 and 2009-10. This borrowing requirement came in about 83% above the budget estimate in 2008-09, and 65% above the previous year in 2009-10. The debt-to-GDP ratio rose from 69% before the recent global financial crisis to 73% in 2010, creating a severe challenge for the Reserve Bank of India (RBI) in meeting the public borrowing requirement without causing market disruption. To hold borrowing costs down while scheduling issue maturities so that rollover risk was kept to a minimum, the RBI followed a multi-pronged strategy. The potential for interaction between public debt management and monetary policy has undoubtedly increased during the recent global crisis. This is due to the increase in short-term debt, which can jeopardise both the signalling of monetary policy and its transmission. India's particular dilemma, however, was related to systemic liquidity, ie the system would preferably be in deficit for monetary policy transmission whereas a system in surplus would be more favourable for debt management. The RBI has resolved this dilemma by putting in place a monetary policy operating framework whereby the system is ideally allowed to be in deficit (or surplus) to the extent of the frictional component, i.e. 1% (/-) of the banking system's net demand and time liabilities (NDTL). In this setup, the structural liquidity deficit (or surplus) is met through OMOs and adjustments in the cash reserves. Against the background of the increased interaction between sovereign debt management (SDM) and monetary policy, two important issues urgently need to be addressed. These are: (i) to ensure seamless coordination between SDM and monetary policy, especially during turbulent periods; and (ii) to revisit the role of central banks in public debt management.Full publication: "http://ssrn.com/abstract=2205164" Fiscal Policy, Public Debt and Monetary Policy in Emerging Market Economies.

Author: Charan Singh
Publisher: Cambridge University Press
ISBN: 1108226132
Category : Business & Economics
Languages : en
Pages :

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Book Description
This book is a comprehensive analysis of the implications of rising public debt in India. It specifically investigates the implications of domestic debt on consumption, the effect of monetised debt on prices, the long-term relationship between domestic debt and growth, and the separation of debt and monetary management. It studies data on debt in India from 1951 to 2017, and covers a wide canvas of issues related to debt management and important developments in the government securities market. It discusses trends in domestic debt, and provides a descriptive review of the major components of public debt. The book presents a close theoretical discussion on the Ricardian equivalence hypothesis, an important concept both historically and in contemporary literature on public debt. The implications of domestic debt delineated in the objectives are empirically analysed.

Author: D. K. Mishra
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 574

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Author: Samba Mbaye
Publisher: International Monetary Fund
ISBN: 1484353595
Category : Business & Economics
Languages : en
Pages : 52

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Book Description
This paper describes the compilation of the Global Debt Database (GDD), a cutting-edge dataset covering private and public debt for virtually the entire world (190 countries) dating back to the 1950s. The GDD is the result of a multiyear investigative process that started with the October 2016 Fiscal Monitor, which pioneered the expansion of private debt series to a global sample. It differs from existing datasets in three major ways. First, it takes a fundamentally new approach to compiling historical data. Where most debt datasets either provide long series with a narrow and changing definition of debt or comprehensive debt concepts over a short period, the GDD adopts a multidimensional approach by offering multiple debt series with different coverages, thus ensuring consistency across time. Second, it more than doubles the cross-sectional dimension of existing private debt datasets. Finally, the integrity of the data has been checked through bilateral consultations with officials and IMF country desks of all countries in the sample, setting a higher data quality standard.

Author: Barry Eichengreen
Publisher: Oxford University Press
ISBN: 0197577911
Category : Business & Economics
Languages : en
Pages : 321

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Book Description
A dive into the origins, management, and uses and misuses of sovereign debt through the ages. Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debtsabout the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergenciesfrom wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governmentsnow more heavily indebted than beforefinally emerge from the crisis.