External debt management : an introduction

This document is designed primarily for government officials responsible for managing the external debt of their countries, but it should also be helpful to those with a general interest in public sector financial management, observers as well as practitioners. The entire range of external debt management is discussed here: the organizational procedures for negotiating foreign loans and credits, the control and coordination of borrowing decisions, risk management, the administration of new loans, external debt accounting and statistics. Basic accounting principles are reviewed and the use of computers is explored. As background, the document reviews trends in financial flows from industrialized to developing countries, the legal aspects of debt management, and external debt restructuring. The document contrains a glossary of key terms and a bibliography or major books on debt management. Each chapter has references to articles, books and technical papers relevant to specific issues.