It survived the financial crisis because management had cash in the bank and modest debt.
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The permanent mechanism of crisis management has been set up in the wake of the Greek debt crisis, where a multi-billion Euro bailout was required.
Jean Mazaurelle, the head of the World Bank in Mauritania and the man in charge of overseeing the debt-relief programme, blames bad management rather than lack of cash for many of the country's problems.
Debt-management firms have to be licensed under the Consumer Credit Act in order to offer their services to people who have serious debt problems.
The federal government should invest in proactive education debt management services for all student loan borrowers.
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The UAE announced plans for a federal debt management office in May.
As I have pointed out here before, if the Debt Management Office hadn't done quite such a brilliant job in borrowing for long maturities - such that the average maturity of UK debt is just under 14 years - the UK might well be like Italy in finding it very hard to borrow at any price right now.
In the worst cases, debt has strangled the firm, or new management has been poor, or the deal was mispriced.
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Finally there is a relatively prudent way in which the UK's debt has been managed by the semi-autonomous Debt Management Office - whose performance looks more and more important and impressive.
This risk-management system apparently proved itself during the crisis in financial markets that followed Russia's default on its sovereign debt last August.
Highland, a private-equity firm, and other lenders obtained Turtle Bay in 2010 from a division of Oaktree Capital Management, which had gone delinquent on the resort's debt.
Jim O'Neill, chairman of Goldman Sachs Asset Management, suggested this weekend's meeting in Washington could mark the beginning of concerted action to tackle the debt crisis in Europe which is the cause of so much stock market volatility.
Normally Greece's debt-management agency would already be raising extra funds to ensure that all goes smoothly in the spring.
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And enshrining limits on borrowing and debt levels in national constitutions doesn't seem a bad way of restoring trust in the financial management of euro-zone governments, which don't have a great deal of credibility left.
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