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Commonwealth Ministerial Debt Sustainability Forum 22 April, 2009.

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Presentation on theme: "Commonwealth Ministerial Debt Sustainability Forum 22 April, 2009."— Presentation transcript:

1 Commonwealth Ministerial Debt Sustainability Forum 22 April, 2009

2 Summary of the Report Objective: present Commonwealth countries capacity building needs. Outline of the report: 1.- Looks into the two main current capacity building assessment methodologies: HIPC-CBP (1998) and The World Bank (2007) 2.-provides the latest capacity building needs by CBP countries (2008). Commonwealth members and OIF members, and then proceeds to a more detailed analysis of the Commonwealth countries. 3.-The last section of the report seeks to share the capacity building activities planned for the Commonwealth countries based on the analysis provided in the previous section.

3 Overall Conclusions Need of additional financing to accelerate debt strategy capacity-building, especially in the context of the global financial crisis. Donor-funded assistance will achieve little without strong commitment by developing country governments to improve legal and institutional frameworks, and to use national capacity rather than external technical assistance.

4 Overall Conclusions II Several actions are suggested to improve the assessment and response of the international community to country capacity-building needs: 1. Assessments of country needs should be: a) comprehensive and objective, b) with clear scoring and evaluation systems, c) conducted by the countries themselves to maximize ownership, d) quality controlled. They should be conducted regularly (annually) in order to track progress and provide donors and implementing org. with a means of assessing success. 2. Assessments should be combined with the diagnosis of capacity gaps and potential solutions, and the construction of national capacity-building plans

5 Overall Conclusions III In terms of areas: The top need is still to build capacity in middle-office analytical functions, notably on domestic debt market development and new external financing strategy. Countries also need major capacity-building investments on macroeconomic forecasts, budget expenditure forecasting and risk management (new requirement), all of which are essential aspects of debt strategy formulation and policy coordination, to cope with new sustainability methodology Commonwealth countries in particular need technical training in portfolio and risk analysis, domestic debt strategy and external new financing strategy.

6 Final Overall Conclusions IV Recommendations for the successful implementation of a long- term capacity-building programme: Passing laws which give debt management staff a clear mandate to produce, approve,disseminate and implement annual debt strategies Updating laws to ensure that they cover all aspects of debt strategy (including domestic debt, contingent liabilities, decentralized debt, and more sophisticated instruments such as PPP agreements) Designing more comprehensive capacity-building plans, carefully selecting staff participating at training events, to fulfill the needs and career paths of each staff member. Making clear Government commitment to reducing dependency on external assistance, by refusing TA while implementing the capacity-building plan.

7 Guyana CCE: Logframe Scores Logframe Scores BaselineCurrent ScoresTarget Section 1 – HIPC CBP Logframe Targets I. LTI. Debt sustainability II. MTI 2a. Strategy updated regularly III. MTI 2b. Legal and institutional framework IV. STI 3a. Trained personnel VI. STI 3c. Capacity Building Plans (updated) Average

8 Guyana: Needs and interventions Priority needs : Updating its debt strategy, getting it approved and implemented Increasing the number of national experts available Finalize the debt legal framework Updating and approve a national a capacity building plan Familiarize with new BWI tools Interventions envisaged for 2009 A National Workshop to update the strategy and increase the number of national experts A sensitization seminar to facilitate the exchange of ideas and coordination between the different agencies in charge of the design and implementation of the strategy A mission to assist Guyana in finalizing the debt act. Coordinate with BWI capacity building activities for new tools

9 Cameroon: Needs and interventions Priority needs : training members of the Debt Committee on the design of global debt strategies combining the CBP methodology with that of the DSF Increasing the number of national experts available training staff on cash management and domestic debt strategies, to prevent future domestic debt crises. Familiarize with new BWI tools Interventions envisaged for 2009 Reg. Workshops on Global debt strategy and BWI tools (DSF, DeMPA, and MTDS) Join training on Cash Mngmt. and designing strategy for issuing national bonds. Debt audit and use of CS-DRMS for dom debt recording

10 The Gambia: Needs and Interventions Priority needs : updating its national debt strategy using LIC DSF with emphasis on new financing and domestic debt strategies. continued training in all technical areas including basic debt management; redrafting of the Loans Act, new borrowing guidelines and drawing up of national capacity building plans. Increasing the number of national experts available

11 The Gambia: Needs and Interventions Interventions envisaged for 2009 Debt Adiverser hired by The Gambian Government – address issues basic training on debt management, legal framwork for debt etc National Debt Strategy Analysis W-Shop using LIC DSF 3 rd Quarter 2009 Participation at wks. Middle Office Oper. and risk mgt, Domestic debt, CS-DRMS, legal aspects of debt management Rgl DSF-LIC workshop

12 Ghana: Needs and Interventions Priority needs : Strengthen training staff in designing the national debt strategy with particular emphasis on new financing and domestic debt strategies, training staff in risk modeling for the sovereign debt portfolio, training more staff on DEMPA, DSF LIC and MTDS; legal aspects of debt management Interventions envisaged for 2009 Participation at wks. Middle Office Oper. and risk mgt in Ghana, legal aspects of debt management Conducting MTDS with IMF DSF-LIC Workshop Staff atachment in addition Staff also are on DLP

13 Sierra Leone: Needs and Interventions Priority needs : to consolidate its pool of national experts on DSA. to update its national debt strategy regularly with particular emphasis on risk analysis and domestic debt strategies. to review its institutional and especially legal framework Interventions envisaged for officials are on DLP to strengthen pool of experts in DSA DSA is planned for July 2009 Participation at wks. Middle Office Oper. and risk mgt, IMM mission to S/Leone and w/shop onlegal aspects of debt management DSF LIC regnal Wshop

14 Kenya: Needs and Interventions Priority needs : Training more staff in the design of the national debt strategy, making sure it is approved, and fully implemented as well as updated regularly. Improving the legal and institutional framework for debt and new financing management, linking the overall national capacity-building plan to individual training needs. Interventions envisaged for 2009 national debt strategy workshop and a sensitization seminar. A follow-up mission to support strategy implementation. Incorporating MTDS results into Nat. Debt Strategy

15 Malawi: Needs and Interventions Priority needs : Review of countrys debt and aid strategy Enhancing capacity to use BWI LIC DSF and MTDS Increasing capacity in use of CS-DRMS, especially auctioning module Interventions envisaged for 2009 Regional training on BWI tools Mission to review Debt and aid strategy Regional training in CS-DRMS

16 Mozambique: Needs and Interventions Priority needs : Increasing the number of national experts available to design and implement a National Debt Strategy Ensuring the National Strategy is approved and fully implemented Improving capacity in back office Familiarize with new BWI tools Interventions envisaged for 2009 National debt strategy workshop and sensitization seminar Proposed training on back office skills Attending regional courses on BWI tools

17 Tanzania: Needs and Interventions Priority needs : Increasing the number of national experts available to formulate new financing and domestic debt strategy Increasing capacity in risk management Familiarize with new BWI tools (DeMPA, DSF and MTDS) Linking NCBP to individual training needs Further capacity in CS-DRMS Interventions envisaged for 2009 National debt strategy workshop and approval seminar Institutional support mission to improve Institutional framework In-country training in CS-DRMS

18 Uganda: Needs and Interventions Priority needs : Ensuring implementation of debt strategy and updating the strategy to take into account the new financing issues Increasing the number of national experts versed in risk modelling Improving Institutional framework for debt management Familiarize with new BWI tools Interventions envisaged for 2009 Follow up institutional support mission Risk modelling project Regional workshops on BWI tools

19 Zambia: Needs and Interventions Priority needs : Increasing the number of national experts available to design and implement debt strategies Review and update the national debt strategy Familiarize with new BWI tools Linking NCBP to individual training needs Interventions envisaged for 2009 Follow up institutional support mission and sensitization seminar to decision makers Regional workshops on BWI tools


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