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Managing Foreign Exchange Rate Risk: Capacity Development for Public Debt Managers in Emerging Market and Low-Income Countries
Thordur Jonasson
Sheheryar Malik
Kay Chung
Mr. Michael G. Papaioannou
出版
International Monetary Fund
, 2024-08-02
ISBN
9798400287107
URL
http://books.google.com.hk/books?id=U4EYEQAAQBAJ&hl=&source=gbs_api
EBook
SAMPLE
註釋
This paper presents some sound practices for foreign-currency risk management in developing countries and outlines instruments for managing sovereign debt portfolio currency exposures. Adoption of a debt management strategy with well-defined targets for foreign exchange risk is a critical element of public debt risk management. To this end, public debt managers often need to face with complex strategic and operational matters related to public debt hedging practices, including the use of derivatives. In this context, we highlight the main institutional challenges in the management of foreign exchange risk in sovereign debt portfolios and discuss the overall implementation of a foreign exchange risk-management strategy.
