The Role of Foreign Currency Debt in Public Debt Management

International Monetary Fund

No 1995/021, IMF Working Papers from International Monetary Fund

Abstract: This paper analyzes the choice between public debt denominated in domestic currency and foreign currency in the context of public debt management theories. It discusses the experience of Belgium, Denmark, Ireland, Italy, New Zealand and Sweden and relates it to the theoretical arguments in favor or against the Issuance of foreign currency debt.

Keywords: WP; currency composition; neutrality theorem; public spending; using swap operation; debt share; currency bond; debt ratio; default premium; foreign exchange loss; foreign currency debt; share of foreign currency debt; foreign currency component; yield differential; Foreign currency debt; Government debt management; Currencies; Global (search for similar items in EconPapers)
Pages: 38
Date: 1995-02-01
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Citations: View citations in EconPapers (4)

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