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Elsie Addo Awadzi
Sustainable public debt has gained renewed attention as countries implement fiscal consolidation measures in the aftermath of the global financial crisis. Sound public debt policies and debt management practices require robust legal underpinnings. Complex legal issues however arise in the design of the legal framework, and tradeoffs are required in many instances. This paper analyzes key features of modern public debt management legal frameworks, drawing from examples in advanced, emerging, and frontier markets. It aims to provide guidance for countries that seek to review and strengthen their public debt management legal frameworks.
Elsie Addo Awadzi

transaction that binds or may bind the national government entity or a county government entity to any future financial obligation in violation of requirements of the law (including any limits imposed). 152 106. Personal sanctions should however be designed with caution . Provisions of the law which punish officials for breach of the legal framework could inadvertently impose the burden of breach on persons who themselves may not be the real culprits. For example, debt managers may be involved in following instructions of the Minister to borrow in line with the