The legal and institutional setup lies at the heart of the PDM setup of any country. It determines the governance framework within which public debt borrowing and its management can take place, states the objectives of debt management, and determines who has the authority to borrow as well as the responsibilities of various agencies involved in PDM.

This module will discuss the different institutional “models” in existence. As there is no “one size fit all” framework, the module will adopt a comparative approach and consider case studies from various countries and the way PDM is managed. The essential provisions that debt management law should contain will also be discussed. It should be noted that this module is not meant to be a specialist course in legal aspects of PDM but is aimed at public debt managers.