2008年-世界发展银行全球_Guide_to_the_Debt_Management_Performance_Assessment_Tool_45页_496kb

Summary of the Debt Management Performance Assessment Tool (DeMPA) Guide

Core Content

The Debt Management Performance Assessment Tool (DeMPA) is a comprehensive methodology developed by the World Bank and the IMF to evaluate the performance of government debt management (DeM) systems. It is based on the IMF and World Bank Guidelines for Public Debt Management, initially published in 2001 and updated in 2003. The DeMPA tool includes 15 performance indicators (DPIs) that cover all central government DeM functions, including borrowing, financing, cash flow management, and reporting. The tool is modeled after the PEFA (Public Expenditure and Financial Accountability) framework and is designed to be user-friendly for nonspecialists.

Main Objectives

• To assess the strengths and weaknesses of government debt management practices.
• To ensure that debt management systems are aligned with sound financial and legal practices.
• To provide a structured way to evaluate the performance of debt management through a set of indicators.
• To support the identification of areas requiring reform or capacity building.

Key Features

• Comprehensive Coverage: The DeMPA covers all central government DeM functions and related activities.
• Scoring System: Each indicator has multiple dimensions, and scores are assigned as A, B, C, or D. C is the minimum requirement, while A represents sound practice.
• Flexibility: DeMPA can be applied to both central and subnational governments.
• Integration with PEFA: There are clear links between DeMPA and PEFA indicators, particularly in areas such as audit, fiscal planning, and cash flow management.

Main Sections

1. Introduction

• The DeMPA is a tool for assessing public debt management performance.
• It is based on the IMF and World Bank Guidelines.
• The Guide provides background, rationale, and supporting information for each indicator.
• It is intended to assist assessors in conducting effective country-level evaluations.

2. Assessment Methodology

2.1 Performance Indicators

• DeMPA includes 15 performance indicators (DPIs).
• Each DPI has one or more dimensions for assessment.
• The C score represents the minimum requirement for effective performance.
• If the C score is not met, a D score is assigned, indicating the need for corrective action.
• A and B scores indicate sound practice and performance above minimum requirements, respectively.

2.2 Link Between DeMPA and PEFA

• DeMPA is modeled after the PEFA framework.
• Some DeMPA indicators are more detailed versions of PEFA indicators.
• There are strong links between DeMPA and PEFA in areas such as audit, fiscal planning, and cash flow management.
• The Guide includes a table showing the direct correspondence between DeMPA and PEFA indicators.

2.3 How to Score the Performance Indicators

• Each DPI is scored based on its individual dimensions.
• N/R (Not Rated/Assessed) is used when a dimension cannot be assessed.
• The conversion tables are used to aggregate scores for indicators with multiple dimensions.
• The overall score for each DPI is determined based on the combination of individual scores.

3. Performance Indicators

3.1 Governance and Strategy Development

DPI-1: Legal Framework

• Rationale: Ensures that the legal framework authorizes borrowing, debt-related transactions, and loan guarantees.

• Key Requirements:

  • Clear authority to borrow in domestic and foreign markets.
  • Defined borrowing purposes (e.g., financing deficits, refinance maturing debt).
  • Clear debt management objectives.
  • Requirement to develop a debt management strategy.
  • Annual reporting to Parliament/Congress.
  • External audit of DeM activities.

• Supporting Documentation:

  • Primary and secondary legislation related to DeM.
  • Agency agreements between the Principal DeM Entity and the Central Bank.

• Indicative Questions:

  • Is there clear authorization in primary legislation for borrowing and loan guarantees?
  • Are there specified borrowing purposes and clear DeM objectives?
  • Is there a requirement to develop and publish a debt management strategy?
  • Are there mandatory reporting and audit requirements?

DPI-2: Managerial Structure

• Rationale: Ensures a clear division of responsibilities between political and technical entities.

• Key Elements:

  • Political level (Parliament/Congress, President, Cabinet, Minister of Finance) sets objectives and approves strategies.
  • Technical entities (DeM entities) implement strategies and manage day-to-day operations.
  • Coordination between DeM entities and central government borrowing is crucial.

• Supporting Documentation:

  • Organizational charts.
  • Secondary legislation defining roles and responsibilities.

• Indicative Questions:

  • Which entities are responsible for DeM activities?
  • What is the process for negotiating and contracting new loans?
  • What role does the Minister of Finance and the Cabinet play in new borrowing?
  • How is coordination between DeM entities and central government borrowing managed?

Conclusion

The DeMPA Guide provides a structured and comprehensive approach to assessing government debt management performance. It emphasizes the importance of a robust legal framework, clear managerial structures, and effective coordination with macroeconomic policies. The scoring system ensures that assessments are objective and based on sound principles, while the integration with PEFA allows for a more holistic evaluation of public financial management. The Guide is an essential tool for policymakers, assessors, and stakeholders in evaluating and improving debt management practices.