Sovereign Asset and Liability Management in Emerging Market Countries: The Case of Uruguay

André Amante, Phillip Anderson, Thordur Jonasson, Herman Kamil and Michael Papaioannou

No 2019/290, IMF Working Papers from International Monetary Fund

Abstract: This paper provides an overview of the strategic and operational issues as well as institutional challenges, related to the implementation of the Sovereign Asset and Liability Management (SALM) approach. Application of an SALM framework allows the authorities to identify and monitor sovereign exposure mismatches; increase resilience to foreign currency and interest rate risks; and thus, strengthen financial stability; and implement more cost-effective management of the public-sector debt. The analysis is based on emerging market (EM) countries and illustrated by the experience of Uruguay, using data as of end-2017.

Keywords: WP; balance sheet; asset; Applying SALM; debt; currency; Public Debt Management; Financial Risk; Foreign Exchange Hedging; Government Securities Markets; SALM framework; BCU balance sheet; balance sheet vulnerability; SALM approach; risk exposure; long position; balance-sheet risk; liability committee; government balance sheet; currency position; asset liability committee; sovereign balance sheet; Financial statements; Government asset and liability management; Currencies; Government debt management; Global (search for similar items in EconPapers)
Pages: 40
Date: 2019-12-27
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Citations: View citations in EconPapers (1)

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