Public borrowing is an alternative source to taxes in time for
a Government’s financing of public expenditures.
Public debt management has interactions with monetary and
fiscal policy and has to be properly coordinated with them.
Public debt management is part of the integrated financial
management of the Government and is closely linked to budget execution and treasury
operations, in particular with cash flow management.
Public debt management is a development engine for domestic
financial markets in domestic currency, and should become a benchmark for the other market
participants.
Last but not least, a good public debt management can promote
economic development and growth; however, an excessive or mismanaged public debt can have
the opposite effect creating a debt overhang and originating a small or negative rate of
growth.
Dr. Enrique Cosio-Pascal can help Governments, International
Financial Institutions and Regional Organisations on the evaluation and the improvement of
the above points for specific countries or group of countries.
