View the Standard

On July 1-2, 2010, in Stockholm, the International Monetary Fund (IMF) and the Swedish National Debt Office (SNDO) co-hosted the 10th IMF Annual Consultations on Policy and Operational Issues facing Public Debt Management. Debt managers and central bankers from 33 advanced and emerging market countries attended. There was broad agreement among participants that there are certain principles that could be followed in turbulent times, placing stronger focus on portfolio, and broader risks and their proper disclosure and understanding. Effective debt management requires that objectives, rationale, methods of implementation, and outcomes be communicated in a clear and timely manner. Participants also expressed general support for enhancing communication among debt managers, central banks, and fiscal and financial regulatory authorities. Read also the IMF's Press Release.  The agreed principles have become the Guiding Principles for Managing Sovereign Risk and High Levels of Public Debt (Stockholm Principles). There are 10 principles in three broader groups:  (i) framework and operations; (ii). communication, and (iii) risk management. For further information, see also The standards were last updated on September 9, 2010.

International Endorsement : IMF as well as debt managers from 33 advanced and emerging countries-see the list at

International Application :  Participating countries: Austria, Belgium, Brazil., Canada, China, Denmark, Finland, France Germany, Greece, Hungary, Iceland, India, Ireland, Italy, Japan, Korea, Latvia, Mexico, Netherlands, New Zealand, Norway, Philippines, Poland, Portugal, Slovenia, Spain, Sweden, Thailand, Turkey, United Kingdom, Uruguay, and United States (see also