Debt Management Performance Assessment

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http://hdl.handle.net/10986/7800

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Cape Verde - Debt Management Performance Assessment (DeMPA)

(Washington, DC, 2022-04) World Bank

A World Bank mission undertook applied the Debt Management Performance Assessment (DeMPA) methodology to evaluate the government’s debt management (DM) capacity and institutions in Cabo Verde during March 28 to April 5, 2022. The assessment covers the legal, institutional, and regulatory framework governing DM. The primary counterpart was the Ministry of Finance (MoF) and within it, the Department of the National Treasury / Financial Operations Service which is the main DM office for the central government. The mission identified DM strengths and areas in need of reform, which are useful for measuring progress in DM capacity, supporting policy dialog with the authorities in the context of the second series of the Development Policy Financing operation (DPF). The policy dialogue helped to build on what has changed since the 2016 DeMPA and discussing persisting gaps in government debt management practices. Reducing debt vulnerabilities is an urgent priority for the government of Cabo Verde and would require a combination of debt reprofiling, higher economic growth and fiscal consolidation. With limited space to borrow, it would also require effective Debt Management.
Debt Management Performance Assessment: Kingdom of Lesotho

(World Bank, Washington, DC, 2018-07) World Bank

At the request of the Minister of Finance of Lesotho, a joint World Bank -Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) mission visited Maseru, between July 2 to 6, 2018, to undertake a Debt Management Performance Assessment (DeMPA).The objective of the mission was to evaluate current performance against the DeMPA methodology, and to assess progress since 2012, when the first DeMPA was performed.The results of the evaluation, spanning the full range of debt management (DeM) functions, show limited progress. Compared to the previous DeMPA, the current assessment revealed only one upgrade related to the registry and management system for domestic debt of the CBL. Yet, additional actions to improve debt management in Lesotho are currently under discussion (i.e., approval of a new policy framework and public debt law), or have already started such as the publication of a debt statistical bulletin, undertaking of a Medium-Term Debt Strategy (MTDS) analytical exercise as the foundation for a Debt Management Strategy, and introduction of a Cash Management Unit.The assessment also revealed several downgrades associated to weaknesses in debt reporting to parliament, lack of regular information sharing between MoF - CBL and with market participants, as well as lack of secure storage and backup for the debt recording and management system of the MoF. Additional areas of improvement relate to, among others: i) fragmented legal framework; ii) lack of a loan guarantees’ framework; iii) preparation and approval of a formal Debt Management Strategy; iv) weak quality controls for data publication; v) quality of cash flow forecasts; vi) lack of policies and procedures for DeM operations; and, vii) completeness and timeliness of debt records.
Debt Management Performance Assessment: Guinea

(World Bank, Washington, DC, 2018-05) World Bank

The DeMPA methodology provides a comprehensive set of indicators spanning the full range of DeM functions and used for in-depth analysis of the quality of government debt management functions and institutions. The results of the DeMPA evaluation help the central government authority to take stock of the current DeM situation, assess quality of undertaken reforms and design medium term reforms’ plan. The Guinean economy is recovering well from two recent major shocks: the Ebola epidemic in 2014-2015 and a decline in commodity prices after 2015. After slowing in 2014–2015 to an average of 3.6 percent, growth reached 10.4 percent in 2016, supported by a recovery in mining, good agricultural performance, and more reliable electricity supply. The mining sector accounted for more than half the growth rate, supported by the expansion of bauxite and alumina production and increased demand. The growth momentum is expected to continue with real growth reaching 5.8 percent in 2018 and averaging approximately 5 ½ percent over the medium term, driven by strong performance in mining, construction, and scaled-up investments in infrastructure. Risks to these projections are balanced, with downside potential from socio-political tensions, delays in projects and reform implementation, and upside potential from faster-than-expected mining production capacity coming on stream.
Debt Management Performance Assessment: Uganda

(World Bank, Washington, DC, 2018-03) World Bank

A joint World Bank-Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI)-United Nations Conference for Trade and Development (UNCTAD) mission undertook an assessment of the government’s debt management capacity and institutions in Uganda during March 2018. The objective of the mission was to assess the debt management strengths and areas in need of reform through the application of the debt management performance assessment (DeMPA) methodology. The results of the DeMPA evaluation help the authorities to take stock of the current debt management situation and design medium term priority reforms. This report records the DeMPA in Uganda as of March 2018.
Debt Management Performance Assessment: Cabo Verde

(World Bank, Washington, DC, 2016-10) World Bank

This report assesses the debt management performance of the government of Cabo Verde by applying the 2015 World Bank debt management performance assessment (DeMPA) methodology. Overall, there have been positive developments in government debt management practices in Cabo Verde. Some of those developments are reflected in improved DeMPA scores, as in the case of the preparation of a medium-term debt management strategy (DMS), publication of debt management information, and documentation of procedures in the domestic market. In some other cases, improvements were not enough to change the scores, although relevant and acknowledged, such as the case of domestic borrowing. In a number of other dimensions, such as those related to debt recording and operational risk, challenges persist. Annex 1 brings a detailed update on the implementation of the debt management reform plan designed in 2013, showing good improvement in some areas, in particular the development of a DMS and debt management reporting, but less progress in operational risk management and data recording.
Debt Management Performance Assessment: Zimbabwe

(World Bank, Washington, DC, 2015-12) World Bank

The mission met with government officials from the Ministry of Finance and Economic Development (MoFED), comprising the departments responsible for debt management (DeM), i.e. the Public Debt Management Office (PDMO), executing the middle and back office functions, and the Departments of International Cooperation, and Financial and Capital Markets, which function as the front offices for foreign and domestic debt. The team also met with other relevant government agencies, and a private bank to complete the assessment. A meeting was arranged with the development partners in the country to inform them of the government’s request for a DeMPA and the key dimensions to be assessed during the exercise; and to gain insights from their experiences. The meeting schedule is given in annex one. This mission falls mainly within the scope of the assistance provided by the World Bank and its partners to improve debt management capacity in developing countries. To this end, the DeMPA tool is based on a methodological approach that facilitates evaluation of performance using different indicators that bring together all debt management functions. These indicators cover the following areas of activity: (i) governance and strategy development; (ii) coordination with macroeconomic policies; (iii) borrowing and related financing activities; (iv) cash flow forecasting and cash balance management; and (v) debt recording and operational risk management. The DeMPA assesses the strengths and weaknesses of each country’s debt management without making recommendations or assumptions as to the potential effects of reforms under way.
Debt Management Performance Assessment: Côte d’Ivoire

(World Bank, Washington, DC, 2015-06) World Bank

At the request of the Government of Cote d’Ivoire, a World Bank mission visited Abidjan on June 11 to 19, 2015, to conduct a second debt management assessment, following the first assessment done in June 2009. This mission provided an opportunity to assess the progress made with debt management since 2009, and to evaluate current performance against the new debt management performance assessment (DeMPA) methodology revised in May 2015, relative to the methodology used in June 2009. To provide an understanding of the comparison and tracking of progress noted, an annex to the report indicates the level of improvement or deterioration in the government’s debt management performance. The DeMPA tool is based on a methodological approach that facilitates evaluation of performance using different indicators that bring together all debt management functions. These indicators cover the following areas of activity: (i) governance and strategy development; (ii) coordination with monetary and fiscal policies; (iii) borrowing and related financing activities; (iv) cash flow forecasting and cash balance management; and (v) operational risk management and the recording and monitoring of loan guarantees. The DeMPA assesses the strengths and weaknesses of each country’s debt management without making recommendations or assumptions as to the potential effects of reforms under way.