Soveregin Debt Management
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Levy Yeyati,Eduardo
Date:
2023Abstract
This paper reviews debt management strategies in Latin America from a positive and a normative
perspective. It discusses the definition of the debt perimeter (what items should be considered to
optimize the cost-risk balance of a debt strategy), broadening the scope beyond documented general
government liabilities to include both contingent and non-financial items, provides an empirical
account of the evolution of the composition of sovereign debt in Latin American in the past 20 years,
and draws key policy implications.