Publication: Debt Management Performance Assessment : Kazakhstan
Date
2011-05
ISSN
Published
2011-05
Author(s)
World Bank
Abstract
A World Bank mission visited Kazakhstan
from July 15-23, 2010, to undertake a comprehensive
assessment of debt management operations using the Debt
Management Performance Assessment tool (DeMPA). The DeMPA
report provides an overview of strengths and weaknesses in
government debt management in Kazakhstan, as evaluated at
end-July, 2010. The scores demonstrate that areas of
strength clearly outnumber areas where policies and
practices fall short of minimum standards for effective debt
management. Areas of strength include the legal framework,
governance, and operational risk management, coordination
with fiscal and monetary policies, as well as debt recording
and reporting. Such strengths are impressive, taking into
account the relatively low debt level and modest recourse to
both domestic and external borrowing. However, many areas
displaying relatively low scores would benefit from
attention and reform. This need is most pressing in the
context of developing a medium-term debt management
strategy, which would involve outlining the preferred
composition of debt based on cost-risk analyses, and would
provide guidance not only for the government s borrowing but
also for market development.
Citation
“World Bank. 2011. Debt Management Performance Assessment : Kazakhstan. © Washington, DC. http://openknowledge.worldbank.org/entities/publication/8a77cdcb-c485-577c-95b8-5102bcaea0db License: CC BY 3.0 IGO.”