The experience of the Heavily Indebted Poor Countries shows how unsustainable debt damages economic growth and development through a vicious cycle. At the same time, many developing countries faced severe financial crisis in the last two decades due to vulnerabilities in their debt structure.This book serves as a primer on debt management for developing economies which are in the process of increased liberalisation and globalisation. After identifying the major issues and developments in debt management over the past four decades, including the evolving international financial architecture, the book deals with issues related to debt sustainability, risk management of sovereign liabilities, institutional and governance aspects in debt management, sub-national debt, contingent liabilities, development of the domestic debt market, debt problems in small state economies and best practices and standards in debt data compilation and reporting.