Sovereign debt portfolios: risks and liability management operations

Michael Papaioannou

Journal of the Asia Pacific Economy, 2011, vol. 16, issue 3, 354-360

Abstract: This paper addresses issues relating to (1) sovereign debt portfolio risks stemming from high sovereign debt levels and unbalanced debt portfolio structures, and (2) liability management operations intended to meet specified debt management objectives, including mitigation of these risks. Further, it outlines some common operations used by public debt managers such as debt swaps and debt buybacks, and explains the rationale and benefits from their undertakings.

Date: 2011
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DOI: 10.1080/13547860.2011.589626

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