ADBI-KDI-ADB Virtual Workshop on Effective Public Debt Management for Sustainable Growth in Asia and the Pacific

Event | 26 May 2021
Online

Time of event

09:30–15:35 Tokyo time

Summary

The COVID-19 pandemic has prompted governments in Asia and the Pacific to increase their public debt to provide relief and stimulus, bringing with it the prospect of higher interest rates and market risks such as an uneven recovery across developed and developing economies. Effective public debt management will be critical to raising extraordinary funding at the lowest possible cost while mitigating the risks to sustainable growth.

Co-hosted by ADBI, the Korea Development Institute (KDI), and the Asian Development Bank (ADB), this virtual workshop addressed two key issues associated with sound public debt management: 1) Debt management strategies and best practices to minimize cost and risk; and 2) Development of an efficient market for domestic government bonds.

Objectives
  • Explore the impacts of COVID-19 and an early recovery among developed economies on public debt sustainability in Asia and the Pacific
  • Highlight international best practices for public debt management and the emergence of green finance as a recovery financing source
  • Formulate effective strategies for debt management and the development of an efficient market for domestic government bonds
Participants
  • Policy makers from ADB member economies and experts from think tanks, universities, and international organizations, including the International Monetary Fund and ASEAN+3 Macroeconomic Research Office.
Output
  • Greater awareness of the potential risks resulting from poorly structured debt associated with post-pandemic capital market changes in Asia and the Pacific
  • Deepened understanding of internationally established public debt management guidelines and strategies
  • Enhanced dialogue and information exchange for addressing public debt management costs and risks
  • Policy brief detailing recommendations for ensuring sound public debt management, based on the workshop discussion
Partners
  • Korea Development Institute
  • Asian Development Bank
Conference Presentations

Keynote Speech: Debt Sustainability after COVID19 and Green Economic Recovery
Naoyuki Yoshino, Keio University

Slide

Session 1.1: Debt Vulnerability Since COVID-19
Hui Miao and Jasmin Sin, IMF

Slide

Session 1.2: Local Currency Bond Market Development in Emerging East Asia
Donghyun Park and Shu Tian, ADB

Slide

Session 1.3: Implication of Earlier Recovery of Developed Economies on Regional Market
Prashant Pande, AMRO

Slide

Session 2.1: How to Design and Implement Effective Debt Management Strategy and Risk Management Framework
Miriam Tamene, Senior Financial Sector Expert, IMF

Slide

Session 2.2: Green Finance and Inclusive Recovery
Shu Tian, ADB

Slide

Session 2.3: Effective Public Debt Management for Sustainable Growth in Asia and the Pacific: Japan Case
Tomoya Yamashita, Director for Debt Management and JGB Investors Relations, Ministry of Finance, Japan

Slide

Session 2.4: Effective Public Debt Management for Sustainable Growth in Asia and the Pacific: Indonesian Case
Erwin Ginting, Head of the Sub-Directorate for Planning and Financing Strategy, Ministry of Finance, Indonesia

Slide

Session 3.2: Development of Local Debt Markets in Asia
Patrick Wu, Managing Director, Emerging Markets Trading Head, Crédit Agricole CIB

Slide

Session 3.3: Effective Public Debt Management for Sustainable Growth in Asia and the Pacific: Korean Case
Jaejin Park, Director, Government Bond Policy Division, Ministry of Economy and Finance, Republic of Korea

Slide

Session 3.4: Effective Public Debt Management for Sustainable Growth in Asia and the Pacific: Indian Case
Venkataraman Sankaran, General Manager, Internal Debt Management Department, Reserve Bank of India

Slide

Session 3.5: Effective Public Debt Management for Sustainable Growth in Asia and the Pacific: Pakistan Case
Shujaat Malik Awan, Market and Financial Risk Specialist, Ministry of Economic Affairs, Pakistan

Slide