European Union Accession: The Challenges for Public Liability Management in Central Europe Book

This publication is a result of the December 15-16, 1997, Brussels Central European Policy Workshop, " EU Accession and Sovereign Debt Management, " sponsored jointly by the European Commission and the World Bank. The first segment gives a brief overview of eight of the major presentations, while the second part presents these eight presentations in their entirety, including conclusions and recommendations. Among the panel topics were: sustainability of borrowing-policy, external and fiscal aspects, institution building for active debt management, liabilities management and portfolio optimization, and implications of European Monetary Union and European Union accession for public debt management. Main findings and recommendations of the workshop fall into the following categories: fiscal prudence and integrated management of public liabilities, globalization and volatility of financial markets, the implications of the proposed launch of the Euro for public liabilities management policy choices, and institutional issues, which are the key requirements for public liabilities management.