PRESENTATION OF THE CENTRAL GOVERNMENT DEBT

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PRESENTATION OF THE CENTRAL GOVERNMENT DEBT

• By Isabelle Ynesta
• National Accounts and Economic statistics

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Central Government Debt

• Focus on borrowings requirements by governments
  to finance their budget deficits.
• Statistics are collected from national sources
  based on a questionnaire prepared and agreed by
  the Working Party on Government Debt Management.
• Concepts and definitions are derived from SNA93.
• The institutional coverage is limited to central
  government sector. It excludes state and local
  governments and social security funds.

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Description of Central Government Debt Instruments

• Marketable debt instruments
• Money market instruments
• Treasury bills
• Commercial paper
• Other
• Bonds
• Fixed rate income instruments
• Index-linked bonds
• Variable-rate notes
• Non marketable debt instruments
• Savings bonds
• Other

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Central Government Debt publication

• Part I Summary tables and charts derived from
  country tables expressed in million US dollars or
  as a percentage of GDP.
• Part II Country tables expressed in national
  currency.
• Table 1 Central Government Debt by instrument,
  amounts outstanding at the end of the year.
• Table 2 Central Government Debt by instrument,
  Gross and Net issues.
• Part III Methodological notes.
• Describe the detail of debt instruments in each
  country.
• Provide information on the institutional and
  regulatory framework.

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Central Government Debt a part of Financial
Accounts

• Sector level
• Sector 1311 of financial accounts called Central
  Government.
• Instruments level
• Treasury bills are included in the category F331
  of the financial accounts called Securities and
  other than shares, short term.
• Bonds are included in the category F332 called
  Securities and other than shares, long term.

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Developments of Central Government Debt

• Pilot project
• Extension of the database
• Data collection on duration and term to maturity
  (summer 2003).
• Data collection on financial derivatives (2004).
• Other projects
• Survey on the methods used by the OECD Member
  countries to calculate consecutive central
  government debt outstanding amounts and net
  issues.
• Integration of the central government debt
  database within the financial accounts database.
• Comparison between data collected within the
  framework of the financial accounts, with data
  collected through the central government debt
  questionnaire.