Program
Subjects
Works
Book Types
Back to issue
Cover of: New Approaches to a Fiscally Oriented Debt Management Strategy: Objectives, Instruments, and Risks
Hannes Rehm

New Approaches to a Fiscally Oriented Debt Management Strategy: Objectives, Instruments, and Risks

Section: Fiscal Policy in Action
Volume 61 (2005) / Issue 4, pp. 587-608 (22)
Published 09.07.2018
DOI 10.1628/001522105776072753
  • article PDF
  • available
  • 10.1628/001522105776072753
Summary
In 2004, government debt in Germany reached a record level. In view of this, debt servicing represents a considerable part of the government budget. Hence, debt management is of increasing significance. The paper describes the objectives and risks of a fiscally oriented debt management strategy. It then presents the instruments that can be used to mitigate risks. The analysis is augmented with a description of the institutional, organizational, and legal regulations that debt managers in Germany must adhere to.