Development of the Government Bond Market and Public Debt Management in Singapore
5 Pages Posted: 13 Apr 2013
Date Written: October 1, 2012
This paper describes the growth of the Singapore Government Securities (SGS) market. It elaborates on the balanced budget policy of the Singapore government, explains how SGS are issued unrelated to fiscal needs and describes how a liquid SGS market is used to establish a robust government yield curve for the pricing and development of the domestic corporate debt market. Recent developments in the SGS market, the issuance of central bank debt and future challenges are included in the paper.
Keywords: National Government Expenditures and Related Policies, National Budget, Deficit and Debt, National Debt, Debt Management, Macroeconomic Policy, Macroeconomic Aspects of Public Finance and General Outlook
JEL Classification: H5, H6, H63, E6
Suggested Citation: Suggested Citation