The art of debt


Until recently, sovereign debt management was viewed as being almost humdrum: taking care of government funding needs and meeting payment obligations, while exercising control over the risks being taken. But over the past 18 months or so, national debt management agencies have been at the centre of government efforts to respond to the financial crisis. With governments across the globe pouring trillions of dollars into efforts to rescue key financial institutions and revive stalled economies,

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