As poor management of contingent liabilities has led to significant losses for governments, many now seek to manage them in a more prudent and systematic fashion. Some governments have given the Debt Management Office an important role in managing CL risks, often in close coordination with the Budget Office. The latter can promote budget transparency and discipline, while the DMO can contribute with sovereign risk quantification and management, and together they can contribute to the government’s design of a general contingent liability policy. The examples of Sweden, New Zealand, Denmark, Canada and Colombia show how the offices in charge of managing the risks from the country’s debt have extended their scope to also monitor and manage risks from contingent liabilities. These examples may be useful for countries seeking to improve the monitoring and management of their contingent liabilities.