Public debt/Addendum: Difference between revisions

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===Public Debt 2007-2014===
:( % of GDP )
:::{|class = "wikitable"
!
!align="center"|   Japan   
!align="center"|   Italy   
!align="center"|   France  
!align="center"|   Germany   
!align="center"| United States
!align="center"| United Kingdom
!align="center"| Average <ref> average of advanced G20 countries</ref>
|-
|2007
|align="center"|195
|align="center"|107
|align="center"|65
|align="center"|65
|align="center"|62
|align="center"|44
|align="center"|79
|-
|2009
|align="center"|217
|align="center"|117
|align="center"|77
|align="center"|80
|align="center"|89
|align="center"|69
|align="center"|101
|-
|2010
|align="center"|226
|align="center"|123
|align="center"|84
|align="center"|87
|align="center"|100
|align="center"|82
|align="center"|110
|-
|2014
|align="center"|239
|align="center"|132
|align="center"|95
|align="center"|91
|align="center"|112
|align="center"|100
|align="center"|120
|}
:::::<references/>
::(Source: ''The State of Public Finances: A Cross-Country Fiscal Monitor'',  IMF Staff Position Note SPN/09/, 21July 30 2009, [http://www.imf.org/external/pubs/ft/spn/2009/spn0921.pdf])
==Management of the national debt==
==Management of the national debt==
Responsibility for the management of the national debt rest in the United States with the Bureau of the Public Debt  <ref>[http://www.publicdebt.treas.gov/US  US Bureau of the Public Debt website]</ref>, and in the United Kingdom with the Debt Management Office <ref>[http://www.dmo.gov.uk/ UK Debt Management Office website]</ref>,  which are executive agencies of their respective Treasuries.
Responsibility for the management of the national debt rest in the United States with the Bureau of the Public Debt  <ref>[http://www.publicdebt.treas.gov/US  US Bureau of the Public Debt website]</ref>, and in the United Kingdom with the Debt Management Office <ref>[http://www.dmo.gov.uk/ UK Debt Management Office website]</ref>,  which are executive agencies of their respective Treasuries.
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==The effect of financial support==
(Guidance based on Government Finance Statistics Manual (GFSM 2001))<br>
The following is the recommended treatment of the impact on the government balance of the main
financial support operations:<br>
Capital grants: Increase the deficit by the amount of the grant.<br>
Equity purchases: Have no impact on the fiscal balance, if purchase is at market value, but increase
government gross debt. Raise the deficit by any marked/undisputable excess of what the government
pays over the value of the equity.<br>
Asset purchases/swaps: Same as equity purchases.<br>
Loans: Have no immediate impact on the fiscal balance if there is no inherent subsidy, but increase
government debt. Reduce the balance by any amount that the government cannot expect to be repaid.<br>
Guarantees: Have no immediate impact on the fiscal balance or debt unless there is a significant
probability the guarantee will be called (in practice when a reserve has been created). In other cases, the
fiscal balance would weaken and debt increase if and when the guarantee is called.<br>
Associated fees, interest, and dividends: Affect the deficit in the same way as other government income
or expense.<br>
Central bank operations: Are reflected in its own balance sheet and income statement, rather than those
of the government. However, losses on these operations will affect the budget over time, as they affect
profit transfers or necessitate recapitalization. For transparency and to facilitate policy decision making,
these operations should be disclosed, possibly as complementary information in the budget.


==References==
==References==
<references/>
<references/>

Revision as of 03:21, 23 October 2009

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https://en.citizendium.org/wiki/index.php?title=Public_debt/Addendum&printable=yes
This addendum is a continuation of the article Public debt.

Public Debt 2007-2014

( % of GDP )
   Japan       Italy       France      Germany    United States United Kingdom Average [1]
2007 195 107 65 65 62 44 79
2009 217 117 77 80 89 69 101
2010 226 123 84 87 100 82 110
2014 239 132 95 91 112 100 120
  1. ↑ average of advanced G20 countries
    2. (Source: The State of Public Finances: A Cross-Country Fiscal Monitor, IMF Staff Position Note SPN/09/, 21July 30 2009, [1])

    Management of the national debt

    Responsibility for the management of the national debt rest in the United States with the Bureau of the Public Debt [1], and in the United Kingdom with the Debt Management Office [2], which are executive agencies of their respective Treasuries.



    References

    1. ↑ US Bureau of the Public Debt website
    2. ↑ UK Debt Management Office website
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