Debt Markets : Policy Challenges in the Post Crisis Landscape Discussions at the 11th OECD WBG IMF Global Bond Market Forum focused on four key areas: i) the impact of crisis related measures and the potential implications of exit; ii) the measurement of sovereign risk; iii) the determinants of investor demand; and iv) debt managers’ response to the crisis. Overall participants felt that the steps taken to stabilise financial conditions had generally been effective and that conditions in financial markets were normalising. However discussions highlighted a number of ongoing risks including: i) while credible consolidation plans were needed fiscal and monetary policy would be tightened too soon; ii) managing investor uncertainty would prove critical in managing risk in the near term; and (iii) regulatory changes might lead to a deterioration in conditions in primary and secondary markets and otherwise aggravate the challenges facing debt managers. JEL Classification: G15 G18 G20 G24 G32 G38 H62 H68 Keywords: Outlook on public deficits and government debt crisis and debt management policies government debt market measurement of sovereign risk investor demand exit strategy