Sound debt management at the national and subnational levels are paramount for macroeconomic stability. In most Debt Management Facility (DMF) eligible countries, government debt is the largest domestic financial portfolio, and debt management operations can be substantial relative to public spending and economic activity. A sound macro-fiscal policy framework requires that public debt is sustainable and can be serviced under a wide range of circumstances...
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Debt Management Facility : Annual Report FY18 (English). Umbrella Trust Fund Annual Report Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/790891594196233894