A working paper published by the IMF on July 2 considers how to strengthen the legal frameworks underpinning public debt management across the globe.

In Designing Legal Frameworks for Public Debt Management, Elsie Addo Awadzi, senior counsel at the IMF’s legal department, stresses that “sound public debt policies and debt management practices require robust legal underpinnings”.

One of the biggest challenges lies in striking the right balance between flexibility in the exercise of authority and