It is against this backdrop, I would like to make some comments on an issue that is engaging attention of policy makers for a decade and half: the issue of separation of debt management from the central bank in India. Institutional arrangements for sovereign debt management 26.
To put the debate in its historical context, with regard to the location of sovereign debt management functions multiplicity of arrangements exist around the world: in the ministry of finance, central bank or autonomous debt management agency. Cross country experience shows that there is no international best practice and the adoption of any particular model could depend on country specific circumstances.