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OECD Development Centre Policy Insights

The OECD Development Centre links OECD members with developing and emerging economies and fosters debate and discussion to seek creative policy solutions to emerging global issues and development challenges. OECD Development Centre Policy Insights is a series of policy-oriented occasional papers drawn from the Development Centre’s Work Programme. All titles are generally available in the two official languages of the OECD: English and French.

English French

Public Debt Management and Political Cycles

Challenges for Latin America

Over the last five years, most Latin American governments have made considerable strides in managing the composition of their public debt, while reducing their foreign-currency exposure. Issuing public debt in local currency is not new for Latin America; what is new, however, is the widespread issuing of local currency debt abroad. Indeed, while five years ago all Latin American sovereign external debt was denominated in foreign currency, today half the debt of countries like Brazil, Colombia, Peru and Uruguay is issued in local currencies.

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