Debt Management and Government Securities Markets in the 21st Century Debt Management and Government Securities Markets in the 21st Century reviews recent trends in the structure of OECD government securities markets and public debt management operations and highlights the generic structural policy issues in emerging debt markets. Over the years OECD debt managers have developed best practices for raising managing and retiring debt at the lowest possible price and acceptable risk largely in the presence of persistent large deficits. New techniques have been developed to cope with the adverse consequences of running surpluses (pricing anomalies and lower liqu