World Bank2013-11-062013-11-062008-03https://hdl.handle.net/10986/16228The Debt Management Performance Assessment (DeMPA) is a methodology for assessing government debt management (DeM) performance through a comprehensive set of indicators spanning the full range of DeM functions. The assessment reveals that Mozambique has points of strength in most areas evaluated by the DeMPA, but that it meets the minimum requirements only in the fields of the legal framework and managerial structure. Mozambique does not meet the minimum requirements with respect to the other indicators, although in many cases work is underway that would lead to meeting the requirements (e.g., debt strategy, debt reporting) or only small improvements would be required in order to meet those requirements (e.g., the annual report, coordination with fiscal policy). The concluding section of this paper outlines areas in which the minimum requirement could be met over the short run with minimal adjustments, and areas where progress would require stronger efforts. Mozambique benefited from debt relief under the Heavily Indebted Poor Country (HIPC) initiative in 2001 and the Multilateral Debt Relief Initiative (MDRI) in 2006. The government has remained committed to seeking new financing with at least 35 percent concessionality, which has been made possible by the strong involvement of the international donor community. Due in large part to Mozambique's success in implementing public financial management reforms, a substantial proportion of external assistance takes the form of direct budget support. The scope of the DeMPA includes central government debt management activities and closely related functions, such as the issuance of loan guarantees, on-lending, cash-flow forecasting, and cash balance management. Thus, the DeMPA does not assess the ability to manage the wider public debt, including implicit contingent liabilities, as well as the debt of state-owned enterprises if these are not guaranteed by the central government.en-USCC BY 3.0 IGOACCOUNTABILITYACCOUNTINGAUCTIONAUCTIONSAUDIT OF ACCOUNTSAUDITINGAUDITORSBANK ACCOUNTBANK ACCOUNTSBANK FEESBANK LOANSBANKSBENEFICIARIESBIDBIDSBILATERAL DEBTBILATERAL DONORSBOND ISSUEBORROWING PLANBORROWING PLANSBORROWING POLICIESBUDGET DEFICITBUDGET LAWCAPACITY BUILDINGCASH ADVANCESCASH BALANCECASH BALANCESCASH FLOWCASH MANAGEMENTCASH TRANSFERSCENTRAL BANKCENTRAL GOVERNMENT DEBTCHECKSCONTINGENT LIABILITIESCREDIT ANALYSISCREDIT LINECREDITORCREDITORSCREDITSCSDEBT DATADEBT DATA RECORDINGDEBT DATABASEDEBT DYNAMICSDEBT LEVELSDEBT MANAGEMENTDEBT MANAGEMENT ACTIVITIESDEBT MANAGEMENT CAPACITYDEBT MANAGEMENT ENTITYDEBT MANAGEMENT FUNCTIONSDEBT MANAGEMENT OPERATIONSDEBT MANAGEMENT STRATEGYDEBT MANAGEMENT SYSTEMDEBT MONITORINGDEBT RECORDINGDEBT RECORDING SYSTEMDEBT RELIEFDEBT RELIEF INITIATIVEDEBT RELIEF INITIATIVESDEBT REPORTINGDEBT REPORTSDEBT SERVICEDEBT SERVICE PAYMENTDEBT SERVICE PAYMENTSDEBT SERVICE PROJECTIONSDEBT STOCKDEBT STOCKSDEBT STRATEGYDEBT SUSTAINABILITYDEBT SUSTAINABILITY ANALYSESDEBT SUSTAINABILITY ANALYSISDEBT TRANSACTIONSDEBTORDEBTOR REPORTINGDEBTOR REPORTING SYSTEMDEPOSITSDERIVATIVESDEVELOPMENT BANKDISASTER RECOVERYDISBURSEMENTDISBURSEMENTSDOMESTIC BORROWINGDOMESTIC DEBTDOMESTIC MARKETECONOMIC GROWTHELECTRONIC BOOK-ENTRYEVOLUTION OF DEBTEXCHANGE RATEEXPENDITUREEXPENDITURESEXTERNAL BORROWINGEXTERNAL BORROWINGSEXTERNAL DEBTEXTERNAL FINANCINGEXTERNAL FUNDINGFINANCIAL ACCOUNTSFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENTFINANCIAL OBLIGATIONSFINANCIAL SUPPORTFINANCING NEEDSFISCAL POLICIESFISCAL POLICYFLOW OF INVESTMENTFOREIGN CURRENCYFOREIGN CURRENCY DEPOSITSFOREIGN EXCHANGEFOREIGN EXCHANGE MARKETSFOREIGN MARKETSFUTURE CASH FLOWSGOVERNMENT BANKGOVERNMENT BORROWINGSGOVERNMENT DEBTGOVERNMENT EXPENDITURESGOVERNMENT FINANCINGGOVERNMENT REVENUESGOVERNMENT SECURITIESHUMAN RESOURCEHUMAN RESOURCE MANAGEMENTINDEBTEDINDEBTED POOR COUNTRYINDEBTEDNESSINFLATIONINFORMATION SHARINGINFORMATION SYSTEMINSUFFICIENT FUNDSINTEREST RATEINTEREST RATESINTERNAL AUDITINTERNAL AUDITSINTERNATIONAL DEVELOPMENTINTERNATIONAL FUNDISSUANCEISSUANCE OF GUARANTEESISSUANCE OF T-BILLSISSUANCESJUDICIARYKEY CHALLENGESLAWSLEGAL FRAMEWORKLEGISLATIONLENDERLIQUIDITYLIQUIDITY MANAGEMENTLOANLOAN AGREEMENTSLOAN CONTRACTLOAN GUARANTEELOAN GUARANTEESLOAN NEGOTIATIONSLOCAL CURRENCYLONG-TERM BORROWINGLONG-TERM BORROWINGSLOW DEBTMACROECONOMIC POLICIESMACROECONOMIC STABILITYMANDATEMARKET DEVELOPMENTMARKET INFORMATIONMARKET PARTICIPANTSMATURITIESMATURITYMONETARY POLICYMONEY MARKETMULTILATERAL DEBTMULTILATERAL DEBT RELIEFMUNICIPALITIESOPERATIONAL RISKOUTSTANDING LOANPAYMENT ORDERPAYMENT ORDERSPAYMENT SYSTEMPENALTIESPENSIONPENSION SYSTEMPROCEDURES FOR DEBTPUBLIC DEBTPUBLIC FINANCEPUBLIC SECTOR DEBTRECAPITALIZATIONREDEMPTIONREGISTRY SYSTEMREGISTRY SYSTEMSREORGANIZATIONREPAYMENTREPOSRETURNRISK MANAGEMENTSECONDARY MARKETSECONDARY TRADINGSECURITIESSETTLEMENTSHORT-TERM BORROWINGSOURCE OF FUNDSSTOCK EXCHANGET-BILLT-BILLST-BONDT-BONDSTECHNICAL ASSISTANCETOTAL DEBTTRANSACTIONTREASURYTREASURY BILLSTREASURY BONDSTREASURY OPERATIONSTYPES OF DEBTUSE OF DERIVATIVESWorld Bank10.1596/16228