The purpose of this tool is to assist you in assessing your own sovereign debt management capability and to
identify areas where you may need external assistance. If any issues or questions arise from your assessment, please feel free to contact us. To assist in our understanding of your situation, it
would be appreciated if you would forward a copy of your assessment in complete confidence.
Country: ______________________________________________________________Contact Name: ________________________________________________________
Position: ______________________________________________________________ Organisation: __________________________________________________________
Address: ______________________________________________________________ Telephone: _________________________________
Facsimile: _________________________________ E-mail: _________________________________ Website: _________________________________
1. Organisational Structure
Which organisations are responsible for the management of public sector debt?
Ministry of Finance
Treasury
Central Bank
Debt Management Agency
Other ________________________________________
2. Current Institutional Arrangements Which of the following structures
best characterises the institutional arrangements in your country for managing public debt (tick one)?
Ministry of Finance and Central Bank manage public debt with no coordination Ministry of Finance and Central Bank manage public debt through coordination Ministry of Finance manages public debt using the Central Bank as an Agent Ministry of Finance is fully responsible for managing all public debt
Central Bank is fully responsible for managing all public debt Debt Management Unit manages public debt using the Central Bank as an Agent
Debt Management Unit is fully responsible for managing all public debt Other structure, please specify: _____________________________________
3. Future Institutional Arrangements
What institutional changes are planned for managing public debt (tick one)?
No changes planned Planning to consolidate all activities in the Ministry of Finance Planning to consolidate all activities in the Central Bank Planning to establish a separate Debt Management Unit Partially established a separate Debt Management Unit
4. Responsibilities Please tick the areas of responsibility your
organisation has in managing public debt and list the responsibilities in each area (e.g., manage T.Bill auctions, arrange debt servicing payments, responsible for all areas of foreign debt management).
Domestic debt __________________________________________ _______________________________________________________
_______________________________________________________ Foreign debt ____________________________________________
_______________________________________________________ _______________________________________________________
Cash management ______________________________________ _______________________________________________________
_______________________________________________________ FX Reserves ____________________________________________
_______________________________________________________ _______________________________________________________
What is the number of employees in your organisation working on public debt management?
5. Debt Management Capacity Please provide details of what public debt
management objectives have been established for your country or your organisation:
__________________________________________________________________ __________________________________________________________________
__________________________________________________________________ __________________________________________________________________
__________________________________________________________________ __________________________________________________________________
Please respond to each of the following questions (Circle "Yes" or "No"):
Are the domestic and foreign currency debt programs managed together? Yes No
Do you have a separate front and back office? Yes No
Do you have a separate risk management unit or middle office? Yes No Is the foreign currency debt program integrated with FX reserves
management? Yes No Are government cash flows and balances integrated with debt management? Yes No Has a strategic benchmark been established for
foreign currency debt management? Yes No Has a strategic benchmark been established for domestic debt management? Yes No
Are there established policy guidelines and limits for debt management? Yes No
Are derivatives used to hedge currency or interest rate risks? Yes No Do you include the tracking and management of government guarantees and contingent
liabilities as part of debt management? Yes No Are your debt accounting and budget debt costs determined on a "cash-based" system? Yes No If you
are currently operating under a "cash-based" system, does the government plan to move to an "accrual based" accounting and budget system? Yes No
6. Debt Management Systems Which debt recording system are you using? None CSDRMS DMFAS Other _______________________ Do you have a debt management system? Yes No
Details of the system: __________________________________________________ Do you have a risk management system? Yes No
Details of the system: __________________________________________________ Which market data service providers do you use?
None Bloomberg Bridge (Telerate) Reuters Do you have access to the Internet? Yes No If you are planning to
develop/enhance your debt management systems, what are your intentions? None Develop in-house Purchase off-the-shelf Combination 7. Constraints Faced in Public Debt Management What constraints or problems does the
government face in public debt management (please tick relevant boxes)? Markets Limited or no access to international financial markets Lack of a developed domestic government debt market Other (please specify) ________________________________________________
Policy Lack of policies for debt management
Lack of policies for risk management Other (please specify) _________________________________________________
Risks
Exchange rate risk (e.g. due to large foreign currency debt exposure) Interest rate risk (e.g. due to large proportion of floating rate or indexed debt)
Funding risk (e.g. due to limited market instruments and market capacity) Liquidity and/or refinancing risk (e.g. due to large amount of short-term debt)
Contingent liability risk (e.g. due to large number of government guarantees) Other (please specify) _________________________________________________
Organisational Legal framework
Lack of appropriate organisational structures Lack of middle office / risk management & compliance capacity Recruitment and retention of trained staff Other (please specify) _________________________________________________
Systems
Consolidated debt database and systems for recording and tracking public debt Debt/risk management systems
Other (please specify) _________________________________________________
8. Technical Assistance Requirements What technical assistance do you
require to enhance your public debt management capacity? Debt management policy development Development of risk management framework
Development of benchmarks and/or performance measures Establishing "sound practice" organisational structures Legal or regulatory environment
Domestic debt market development Infrastructure (IT systems and networks, market data services, system strategy) Consolidated debt database
Systems (debt recording, front office, back office and risk management systems) Training
Other (please specify) _________________________________________________
9. Issues and Questions
Please detail below any issues or questions arising from your assessment:_______________________________________________________________________
_______________________________________________________________________ _______________________________________________________________________
_______________________________________________________________________ _______________________________________________________________________
_______________________________________________________________________ _______________________________________________________________________
_______________________________________________________________________ _______________________________________________________________________
_______________________________________________________________________ _______________________________________________________________________ |
