International Public Finance (IPF) encompasses a broad range of entities, operating in the public sector outside the U.S. They include local and regional governments, social housing providers, universities, hospitals, mass transit and other non-profit organizations. Being part of the public sector, IPF entities normally follow the rules, regulations and directives set by the sovereign or another related government. Nevertheless, they operate under different socio-economic conditions, and design and implement independent financial policies, leading to a great variety of budget, liquidity and debt burden pressures.