Debt Management Institutions in Latin America and the Caribbean: A Comparative Analysis

Public debt management is one of the most crucial functions of any government, but we know little about how debt management offices operate. Based on a survey of 24 Latin American and Caribbean countries, this document presents the first systematic effort to analyze how these offices are organized and how they perform crucial debt management functions: developing and executing the strategy for managing the States' portfolio of liabilities and new borrowing. The evidence indicates that, although institutional capacity to manage public debt has improved in the region, the experience is uneven among countries. We conclude by highlighting potential areas for improvement.