Stundum fer umræðan alveg út í móa á Íslandi:
„Another trend in the structure of the domestic debt over the last decade is the increasing importance of inflation-linked debt. Even though these instruments are not used, or, have low weights in most EM portfolios, they have been introduced by a number of countries as an alternative to nominal fixed-rate instruments to extend maturities and reduce currency and rollover risk. Some countries also issue linkers to reach an optimal debt portfolio, combining these instruments with fixed-rate securities. South Africa for instance who did not use inflation linked securities in 2000 had 16% of the portfolio in these instruments by 2009; Brazil managed to move the share of linkers from 6% to 22%; and Turkey that started using these instruments in 2006, had reached 10% in 2009. Inflation linkers have found strong demand from pension funds and non residents. This is good news as the literature on government debt provides support for some use of inflation-indexed debt, as much of the government’s revenues (that service the debt) are real in nature.“
Phillip R. D. Anderson, Anderson Caputo Silva and Antonio Velandia-Rubiano (2010), „Public Debt Management in Emerging Market Economies: Has This Time Been Different?“ The World Bank, Banking and Debt Management Department, Global Capital Markets Development Department, WPS5399.
Tryggvi Þór Herbertsson