Sovereign Risk Manager of the Year - Agence France Trésor

Risk Awards 2008

Corporate treasurers across the globe have long moaned about the complexities of mark-to-market accounting standards and hedge effectiveness tests. Treasurers maintain that these regulations are unnecessarily complex, costly and time-consuming. It is therefore unusual to see anyone implement them voluntarily - and even more surprising when that someone is a sovereign.

Nonetheless, Agence France Trésor (AFT), France's treasury and debt management department, began reporting under French financial