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大量新兴国家所采取的积极的债务管理措施使得本国资产负债表的波动性显著降低,节约了为数可观的债务成本。本文引用两个典型例子:巴西采取减少其与美元相关的负债的政策,使得这部分负债的规模从2002年底占净负债总额的30％下降到2004年7月的15％。墨西哥实施富有创意的全球债券债务交换的方案,以期利用全球债券收益率曲线的特性来节约债务成本。
The positive debt management measures taken by a large number of emerging countries have resulted in a significant reduction in the volatility of their balance sheets and a significant reduction in the cost of debt. This article cites two typical examples: Brazil’s policy of reducing its dollar-related liabilities has reduced the size of this part of the debt from 30% of total net liabilities at the end of 2002 to 15% in July 2004. Mexico implemented a program of innovative global debt bond exchange programs to take advantage of the features of the global bond yield curve to save on debt costs.