ET in the Classroom: Public debt office

A public debt office or a debt management office is an autonomous government agency which acts as the investment banker to the government and raises capital from the markets for the government. It formulates the borrowing calendar for the government and decides upon the maturities of the securities to be issued on behalf of the government. A public debt office works separately from the central bank and has nothing to do with the formulation of the monetary policy or setting interest rates.

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