Debt Management Performance Assessment

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    Subnational Debt Management Performance Assessment: Ogun State, Nigeria
    (World Bank, Washington, DC, 2019-11) World Bank
    At the request of the authorities, a World Bank (WB) subnational debt management performance assessment (SN-DeMPA) mission visited Ogun state, Nigeria between April 8 to 12, 2019. The main objective of the mission was to assess, jointly with the authorities, the current debt management performance of Ogun state. To meet this objective, the team worked closely with the debt management department (DMD) and met with other relevant state agencies and departments involved in public debt management. The SN-DeMPA observed several debt management functions that may benefit from improvements to meet the minimum effectiveness in DeM.
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    Debt Management Performance Assessment: Maldives
    (World Bank, Washington, DC, 2019-03) World Bank
    A World Bank (WB) mission undertook an assessment of the government's debt management(DeM) capacity and institutions in Maldives during March 20-29, 2019, at the request of theMinistry of Finance (MoF). The objective of the mission was to assess the DeM strengths andareas in need of reform through the application of the Debt Management Performance Assessment (DeMPA) methodology. This is the second evaluation for Maldives; the first DeMPA was conducted by the WB in 2009. The MoF has implemented a series of public finance management reforms in legal and institutional arrangements since the last DeMPA. Treasury operations have experienced a complete overhaul, including the rolling out an Integrated Financial Management Information System (SAP) to government entities on Male', establishment of a Treasury Single Account (TSA) and the development of cash flow forecasting procedures. The coverage of the debt management system, the CS-DRMS, has also been expanded and is now used as a central database for almost all debt obligations (excluding Islamic instruments). The DeMPA methodology, revised in 2015, provides a comprehensive set of indicators spanning the full range of DeM functions and is used for in-depth analysis of government debt management functions and institutions. The results of the assessment help the central government authority to take stock of the current DeM situation and design medium term priority reforms. The results of 2019's assessment for Maldives demonstrate many broad-based improvements implemented in Maldives and provide highlights of pending reforms.
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    Guidance for Operational Risk Management in Government Debt Management
    (World Bank, Washington, DC, 2010-03) Magnusson, Tomas ; Prasad, Abha ; Storkey, Ian
    Operational risk is defined as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. In debt management operations, the categories of risks, such as market risk, credit risk, refinancing risk and liquidity risk, are relatively well known; however operational risk is not. The area has not been given due attention to by government debt managers in developing a risk management framework. A similar conclusion on aspects pertaining to operational risk management is borne out from the early results of the World Bank's assessments using its government Debt Management Performance Assessment (DeMPA) tool. This paper thus, introduces the concepts of operational risk as applied to government debt management (DeM) and attempts to present a framework for debt managers to manage operational risks while undertaking public debt management operations. It draws on existing literature for operational risk management principles and practices that have been formulated by the Bank for International Settlements (BIS) Basel Committee on Banking Supervision, the Committee of Sponsoring Organizations (COSO) and the findings of the DeMPAs.