baba y. musa - world bank musa_0.pdf · reform plan nov. 20 –dec.9, 2010 reform plan february 11...
TRANSCRIPT
DeMPA in Anglophone West Africa
A Retrospective
Baba Y. MusaDirector, Debt Management Department,
(WAIFEM)
Presentation at World Bank DMF Stakeholder's Forum 2015Asian Development bank Headquarters, Manila, Philippines
Introduction – Overview of DeMPAMissions in Anglophone West Africa
Country Specific cases
Nigeria’s Performance Indicator Grid
Some Noticeable Impact of DeMPA
OUTLINE
Overall Results in WAIFEM Countries
7 National DeMPA
4 Sub-NationalDeMPA
4Reform Plans
15 DeMPA Missions (Between 2007 – April 2015)
Implementation of DEMPA in WAIFEM Member Countries – Lessons Learned
Pilot DeMPA in 2007
Revised DeMPA Jan. 11-20, 2010
Reform Plan Nov. 20 – Dec.9, 2010
Reform Plan February 11 – 15, 2013
2nd DeMPA – June 9 –18, 2014
Pilot DeMPA
March 6 – 14, 2008
Reform Plan November 17-21, 2008
2nd DeMPA
June 4 – 8, 2012
Reform Plan June 24 –July 2, 2013Ghana
DeMPA mission, September 7-
16, 2009
Reform Plan January 11-20,
2012
DeMPA Mission
July 20 – 31, 2009
Reform Plan June 27 – July 4, 2010
Liberia
Sierra Leone
National DeMPASeptember 15-25, 2008
2nd National DeMPA
March 26 - 30, 2012
Sub- National DeMPA
Lagos, Jan. 31-Feb. 8, 2011
Sub- National DeMPACross Rivers, Jan. 27– Feb
6, 2014
Sub- National DeMPAOndo, Feb.27-Mar.7, 2011
Sub- National DeMPAEdo, April 1-8, 2013
7
0
10
20
30
40
50
60
70
80
90
100
1.LegalFramework 2.ManagerialStructure:BorrowingandDebt-RelatedTransac ons
3.ManagerialStructure:LoanGuarantee
4.DebtManagementStrategy:QualityofContent
5.DebtManagementStrategy:Decision-MakingProcess
6.Evalua onofDebtManagementOpera ons
7.Audit:Frequency
8Audit:AppropriateResponse
Coordina onwithMacroeconomicPolicies
9.FiscalPolicy:ProvisionandQualityofDebt-ServiceForecasts
10.FiscalPolicy:AvailabilityandQualityofInforma ononKeyMacroVariablesandDSA
11.MonetaryPolicy:ClarityofSepara onbetweenDeMandMonetaryPolicyOpera ons
12.MonetaryPolicy:RegularityofInforma onSharing
33.MonetaryPolicy:LimitedAccesstoCentralBankFinancing
2.BorrowingandRelatedFinancingAc vi es
14.Domes cBorrowing:Market-BasedMechanismsandPrepara onofaBorrowingPlan
15.Domes cBorrowing:AvailabilityandQualityofDocumentedProcedures
16.ExternalBorrowing:BorrowingPlanandAssessmentofCostsandTerms
17.ExternalBorrowing:AvailabilityofDocumentedProcedures
18.ExternalBorrowing:InvolvementofLegalAdvisers19.LoanGuarantees:AvailabilityandQualityofDocumented
PoliciesandProcedures
20.On-lending:AvailabilityandQualityofDocumentedPoliciesandProcedures
21.Deriva ves:AvailabilityandQualityofDocumentedPoliciesandProcedures
CashFlowForecas ngandCashBalanceManagement
22.Effec veCashFlowForecas ng
23.Effec veCashBalanceManagement
Opera onalRiskManagement
24.DebtAdministra on:AvailabilityandQualityofDocumentedProceduresforDebtService
25.DebtAdministra on:AvailabilityandQualityofDocumentedProceduresforDataRecordingandStorage
26.DataSecurity:AvailabilityandQualityofDocumentedProceduresforDataRecordingandSystemandAccessControl
27.DataSecurity:FrequencyofBack-UpsandSecurityofStorage
28.Segrega onofDu es
29.StaffCapacityandHumanResourceManagement
30.Opera onalRiskManagement,BusinessCon nuity,andDisasterRecoveryPlans
DebtRecordsandRepor ng
31.DebtRecords:CompletenessandTimeliness
32.DebtRecords:RegistrySystem
33.CentralGovernmentDebtData:StatutoryandMandatoryRepor ngRequirements
34.PublicSectorDebtData:StatutoryandMandatoryRepor ngRequirements
35.DebtSta s calBulle n:QualityandTimeliness
WAIFEMmembercountriesaverageDeMPAresults
Overall Results in WAIFEM Countries
80 10 20 30 40 50 60 70 80 90 100
1.LegalFramework
2.ManagerialStructure:BorrowingandDebt-RelatedTransac ons
3.ManagerialStructure:LoanGuarantee
4.DebtManagementStrategy:QualityofContent
5.DebtManagementStrategy:Decision-MakingProcess
6.Evalua onofDebtManagementOpera ons
7.Audit:Frequency
8Audit:AppropriateResponse
Coordina onwithMacroeconomicPolicies
9.FiscalPolicy:ProvisionandQualityofDebt-ServiceForecasts
10.FiscalPolicy:AvailabilityandQualityofInforma ononKeyMacroVariablesandDSA
11.MonetaryPolicy:ClarityofSepara onbetweenDeMandMonetaryPolicyOpera ons
12.MonetaryPolicy:RegularityofInforma onSharing
33.MonetaryPolicy:LimitedAccesstoCentralBankFinancing
2.BorrowingandRelatedFinancingAc vi es
14.Domes cBorrowing:Market-BasedMechanismsandPrepara onofaBorrowingPlan
15.Domes cBorrowing:AvailabilityandQualityofDocumentedProcedures
16.ExternalBorrowing:BorrowingPlanandAssessmentofCostsandTerms
17.ExternalBorrowing:AvailabilityofDocumentedProcedures
18.ExternalBorrowing:InvolvementofLegalAdvisers
19.LoanGuarantees:AvailabilityandQualityofDocumentedPoliciesandProcedures
20.On-lending:AvailabilityandQualityofDocumentedPoliciesandProcedures
21.Deriva ves:AvailabilityandQualityofDocumentedPoliciesandProcedures
CashFlowForecas ngandCashBalanceManagement
22.Effec veCashFlowForecas ng
23.Effec veCashBalanceManagement
Opera onalRiskManagement
24.DebtAdministra on:AvailabilityandQualityofDocumentedProceduresforDebtService
25.DebtAdministra on:AvailabilityandQualityofDocumentedProceduresforDataRecordingandStorage
26.DataSecurity:AvailabilityandQualityofDocumentedProceduresforDataRecordingandSystemandAccessControl
27.DataSecurity:FrequencyofBack-UpsandSecurityofStorage
28.Segrega onofDu es
29.StaffCapacityandHumanResourceManagement
30.Opera onalRiskManagement,BusinessCon nuity,andDisasterRecoveryPlans
DebtRecordsandRepor ng
31.DebtRecords:CompletenessandTimeliness
32.DebtRecords:RegistrySystem
33.CentralGovernmentDebtData:StatutoryandMandatoryRepor ngRequirements
34.PublicSectorDebtData:StatutoryandMandatoryRepor ngRequirements
35.DebtSta s calBulle n:QualityandTimeliness
WAIFEMmembercountriesaverageDeMPAresults
Common Issues across the member countries
• The accountability framework for debt management in terms of auditwould need to be strengthen. Most of the audit exercises concentratedonly on audits of the government’s financial statements and activities.There were no reviews of debt management operations, performance ofsystems and control procedures.
• Business continuity planning was found to be weak across most of thecountries. Disaster recovery process especially capacity to resume criticalbusiness operations after natural disaster was absent.
• There was lack of cost-effective cash management policies that wouldenable authorities to invest surplus balances (excess liquidity) or to be usedto buy back domestic debt through transactions such as entering intoreverse repurchase agreements or buyback of T-bills. In additioneffectiveness of cash flow forecasting of level of aggregate cash balances ingovernment bank accounts is generally weak.
Common Issues across the member countries
• None of the countries ever had a derivative transaction and there are nolaws guiding such transaction.
• There was lack of cost-effective cash management policies that wouldenable authorities to invest surplus balances (excess liquidity) or to be usedto buy back domestic debt through transactions such as entering intoreverse repurchase agreements or buyback of T-bills.
11
The Gambia as at 2014
12
0
10
20
30
40
50
60
70
80
90
100
1.Leg
alFram
ework
2.Ma
nager
ialStr
ucture
:Borr
owing
andD
ebt-R
elated
Transac
ons
3.Ma
nager
ialStr
ucture
:LoanGu
arante
e4.De
btMa
nagem
entS
trateg
y:Quality
ofCo
ntent
5.De
btMa
nagem
entS
trateg
y:Deci
sion-M
akingPr
ocess
6.Eva
luaon
ofDe
btMa
nagem
entO
pera
ons
7.Au
dit:Fr
eque
ncy
8Aud
it:Ap
propri
ateRe
sponse
Coord
inaon
with
Macro
econo
micP
olicie
s
9.Fis
calPo
licy:P
rovisio
nand
Qualit
yofD
ebt-S
ervice
Forec
asts
10.Fi
scalPo
licy:A
vailab
ilitya
ndQu
alityo
fInfor
maon
onKe
yMacr
oVari
ables
andD
SA
11.M
oneta
ryPo
licy:C
larity
ofSe
para
onbe
tweenD
eMan
dMon
etary
Policy
Opera
ons
12.M
oneta
ryPo
licy:R
egular
ityof
Infor
maon
Shari
ng
33.M
oneta
ryPo
licy:Li
mited
Acces
stoCe
ntralB
ankF
inanci
ng
2.Bo
rrowin
gand
Relat
edFin
ancin
gAcv
ies
14.D
omes
cBorr
owing
:Mark
et-Ba
sedM
echanism
sand
Prep
araon
ofaB
orrow
ingPlan
15.D
omes
cBorr
owing
:Avai
labilit
yand
Qualit
yofD
ocume
ntedP
roced
ures
16.Ex
ternalBorr
owing
:Borr
owing
Plana
ndAs
sessm
ento
fCost
sand
Term
s
17.Ex
ternalBorr
owing
:Avai
labilit
yofD
ocume
ntedP
roced
ures
18.Ex
ternalBorr
owing
:Involve
ment
ofLeg
alAdvi
sers
19.Lo
anGu
arante
es:Av
ailability
andQ
uality
ofDo
cumen
tedPo
licies
andP
roced
ures
20.O
n-len
ding:A
vailab
ilitya
ndQu
alityo
fDocu
mente
dPolicie
sand
Proce
dures
21.D
eriva
ves:A
vailab
ilitya
ndQu
alityo
fDocu
mente
dPolicie
sand
Proce
dures
Cash
FlowF
orecas
ngan
dCash
Balan
ceMa
nagem
ent
22.Ef
fecve
Cash
FlowF
orecas
ng
23.Ef
fecve
Cash
Balan
ceMa
nagem
ent
Opera
onalR
iskM
anage
ment
24.D
ebtA
dministr
aon
:Avai
labilit
yand
Qualit
yofD
ocume
ntedP
roced
uresfo
rDeb
tServ
ice
25.D
ebtA
dministr
aon
:Avai
labilit
yand
Qualit
yofD
ocume
ntedP
roced
uresfo
rData
Recor
dinga
ndSt
orage
27.D
ataSe
curity
:Freq
uency
ofBa
ck-Up
sand
Secur
ityof
Stora
ge
28.Se
grega
onof
Dues
29.St
affCa
pacitya
ndHu
manR
esourc
eManage
ment
30.O
pera
onalR
iskM
anage
ment,
Busin
essCo
nnu
ity,an
dDisa
sterR
ecover
yPlan
s
Debt
Recor
dsandR
epor
ng
31.D
ebtR
ecords
:Com
pleten
essan
dTim
eliness
32.D
ebtR
ecords
:Regi
stryS
ystem
33.C
entra
lGovern
ment
Debt
Data:
Statu
torya
ndM
andator
yRep
orngRe
quire
ments
34.P
ublic
Sector
Debt
Data:
Statu
torya
ndM
andator
yRep
orngRe
quire
ments
35.D
ebtS
tasc
alBulle
n:Qu
alitya
ndTim
eliness
TheGambia
Series1
Ghanaas at June 2012
13
0 20 40 60 80 100 120
1.LegalFramework
2.ManagerialStructure:BorrowingandDebt-RelatedTransac ons
3.ManagerialStructure:LoanGuarantee
4.DebtManagementStrategy:QualityofContent
5.DebtManagementStrategy:Decision-MakingProcess
6.Evalua onofDebtManagementOpera ons
7.Audit:Frequency
8Audit:AppropriateResponse
Coordina onwithMacroeconomicPolicies
9.FiscalPolicy:ProvisionandQualityofDebt-ServiceForecasts
10.FiscalPolicy:AvailabilityandQualityofInforma ononKeyMacroVariablesandDSA
11.MonetaryPolicy:ClarityofSepara onbetweenDeMandMonetaryPolicyOpera ons
12.MonetaryPolicy:RegularityofInforma onSharing
33.MonetaryPolicy:LimitedAccesstoCentralBankFinancing
2.BorrowingandRelatedFinancingAc vi es
14.Domes cBorrowing:Market-BasedMechanismsandPrepara onofaBorrowingPlan
15.Domes cBorrowing:AvailabilityandQualityofDocumentedProcedures
16.ExternalBorrowing:BorrowingPlanandAssessmentofCostsandTerms
17.ExternalBorrowing:AvailabilityofDocumentedProcedures
18.ExternalBorrowing:InvolvementofLegalAdvisers
19.LoanGuarantees:AvailabilityandQualityofDocumentedPoliciesandProcedures
20.On-lending:AvailabilityandQualityofDocumentedPoliciesandProcedures
21.Deriva ves:AvailabilityandQualityofDocumentedPoliciesandProcedures
CashFlowForecas ngandCashBalanceManagement
22.Effec veCashFlowForecas ng
23.Effec veCashBalanceManagement
Opera onalRiskManagement
24.DebtAdministra on:AvailabilityandQualityofDocumentedProceduresforDebtService
25.DebtAdministra on:AvailabilityandQualityofDocumentedProceduresforDataRecordingandStorage
26.DataSecurity:AvailabilityandQualityofDocumentedProceduresforDataRecordingandSystemandAccessControl
27.DataSecurity:FrequencyofBack-UpsandSecurityofStorage
28.Segrega onofDu es
29.StaffCapacityandHumanResourceManagement
30.Opera onalRiskManagement,BusinessCon nuity,andDisasterRecoveryPlans
DebtRecordsandRepor ng
31.DebtRecords:CompletenessandTimeliness
32.DebtRecords:RegistrySystem
33.CentralGovernmentDebtData:StatutoryandMandatoryRepor ngRequirements
34.PublicSectorDebtData:StatutoryandMandatoryRepor ngRequirements
35.DebtSta s calBulle n:QualityandTimeliness
Ghana2013
Liberiaas at Sept 2009
14
0
10
20
30
40
50
60
70
80
90
100
1.Le
galFramew
ork
2.M
anagerialStru
cture:BorrowingandDe
bt-Related
Transac
ons
3.M
anagerialStru
cture:Lo
anGuarantee
4.Deb
tManagem
entS
trategy:Q
ualityo
fCon
tent
5.Deb
tManagem
entS
trategy:D
ecision
-MakingProcess
6.Evalua
onofD
ebtM
anagem
entO
pera
ons
7.Aud
it:Frequ
ency
8Aud
it:App
ropriateRespo
nse
Coordina
onwith
Macroecon
omicPo
licies
9.FiscalPolicy
:Provis
ionandQu
ality
ofD
ebt-S
ervic
eForecasts
10.Fisc
alPolicy
:Availabilitya
ndQualityo
fInforma
ononKe
yMacroVariablesand
DSA
11.M
onetaryP
olicy
:Clarityo
fSep
ara
onbetweenDe
Mand
Mon
etaryP
olicy
Ope
raon
s
12.M
onetaryP
olicy
:Regularity
ofInforma
onSh
aring
33.M
onetaryP
olicy
:Lim
itedAccessto
Cen
tralBankF
inancin
g
2.BorrowingandRe
latedFinancingAc
vies
14.D
omes
cBorrowing:M
arket-B
ased
Mechanism
sand
Prepara
onofa
BorrowingPlan
15.D
omes
cBorrowing:Availabilitya
ndQualityo
fDocum
entedProced
ures
16.ExternalBorrowing:BorrowingPlanand
Assessm
ento
fCostsand
Terms
17.ExternalBorrowing:Availabilityo
fDocum
entedProced
ures
18.ExternalBorrowing:Involve
men
tofLegalAdvise
rs
19.LoanGu
arantees:A
vailabilitya
ndQualityo
fDocum
entedPo
liciesa
ndProcedu
res
20.O
n-lend
ing:Availabilitya
ndQualityo
fDocum
entedPo
liciesa
ndProcedu
res
21.D
eriva
ves:Av
ailabilitya
ndQualityo
fDocum
entedPo
liciesa
ndProcedu
res
CashFlowForecas
ngand
CashBa
lanceManagem
ent
22.Effe
cveCashFlow
Forecasng
23.Effe
cveCashBa
lanceManagem
ent
Opera
onalRisk
Managem
ent
24.D
ebtA
dministra
on:A
vailabilitya
ndQualityo
fDocum
entedProced
uresfo
rDeb
tServic
e
25.D
ebtA
dministra
on:A
vailabilitya
ndQualityo
fDocum
entedProced
uresfo
rDataRe
cordingandStorage
27.D
ataSecurity:Frequ
encyofB
ack-Up
sand
Securityo
fStorage
28.Segrega
onofD
ues
29.StaffCa
pacitya
ndHum
anResou
rceManagem
ent
30.O
pera
onalRisk
Managem
ent,Bu
sinessC
onnu
ity,and
Disa
sterRecoveryP
lans
DebtRecordsand
Rep
orng
31.D
ebtR
ecords:C
ompleten
essa
ndTim
eliness
32.D
ebtR
ecords:R
egistrySy
stem
33.C
entra
lGovernm
entD
ebtD
ata:St
atutorya
ndM
andatoryRep
orngReq
uiremen
ts
34.Pu
blicSectorDeb
tData:St
atutorya
ndM
andatoryRep
orngReq
uiremen
ts
35.D
ebtS
tascalBulle
n:Qualitya
ndTim
eliness
Liberia2009
15
Sierra Leoneas at July 2009
0
20
40
60
80
100
120
1.Le
galFramew
ork
2.M
anagerialSt
ructure:Borrowinga
ndDeb
t-Related
Transac
ons
3.M
anagerialStru
cture:Lo
anGuarantee
4.Deb
tManagem
entS
trategy:Q
ualityo
fCon
tent
5.Deb
tManagem
entS
trategy:D
ecision
-MakingP
rocess
6.Evalua
onofD
ebtM
anagem
entO
pera
ons
7.Aud
it:Fr
eque
ncy
8Aud
it:App
ropriat
eRe
spon
se
Coordina
onwith
Macroecon
omicPo
licies
9.FiscalPolicy
:Provis
ionandQu
ality
ofD
ebt-S
ervic
eForecasts
10.Fisc
alPo
licy:Availabilitya
ndQualityo
fInforma
ononKe
yMacroVariab
lesa
ndDSA
11.M
onetaryP
olicy
:Clarityo
fSep
ara
onbetweenDe
Mand
Mon
etaryP
olicy
Ope
raon
s
12.M
onetaryP
olicy
:Regularity
ofInforma
onSh
aring
33.M
onetaryP
olicy
:Lim
itedAccessto
Cen
tralBankF
inancin
g
2.Borrowinga
ndRelated
FinancingA
cvi
es
14.D
omes
cBorrowing:M
arket-B
ased
Mechanism
sand
Prepara
onofaBorrowingP
lan
15.D
omes
cBorrowing:Availabilitya
ndQualityo
fDocum
entedProced
ures
16.ExternalBorrowing:BorrowingP
lanandAssessmen
tofC
ostsan
dTerm
s
17.ExternalBorrowing:Availabilityo
fDocum
entedProced
ures
18.ExternalBorrowing:Involve
men
tofLegalAdvise
rs
19.LoanGu
arantees:A
vailabilitya
ndQualityo
fDocum
entedPo
liciesa
ndProcedu
res
20.O
n-lend
ing:Availabilitya
ndQualityo
fDocum
entedPo
liciesa
ndProcedu
res
21.D
eriva
ves:Av
ailab
ilitya
ndQualityo
fDocum
entedPo
liciesa
ndProcedu
res
CashFlow
Forecasngan
dCashBalanceM
anagem
ent
22.Effe
cveCashFlo
wFo
recasng
23.Effe
cveCashBa
lanceManagem
ent
Opera
onalRisk
Managem
ent
24.D
ebtA
dministra
on:A
vailabilitya
ndQualityo
fDocum
entedProced
uresfo
rDeb
tServic
e
25.D
ebtA
dministra
on:A
vailabilitya
ndQualityo
fDocum
entedProced
uresfo
rDataR
ecordingan
dStorage
27.D
ataS
ecurity
:Frequ
encyofB
ack-Up
sand
Securityo
fStorage
28.Segrega
onofD
ues
29.StaffCa
pacitya
ndHum
anResou
rceManagem
ent
30.O
pera
onalRiskM
anagem
ent,Bu
sinessC
onnu
ity,and
Disa
sterRecoveryP
lans
DebtRecordsan
dRe
porng
31.D
ebtR
ecords:C
ompleten
essa
ndTim
eliness
32.D
ebtR
ecords:R
egistrySy
stem
33.C
entra
lGovernm
entD
ebtD
ata:St
atutorya
ndM
andatoryRep
orngReq
uiremen
ts
34.P
ublicSe
ctorDeb
tData:St
atutorya
ndM
andatoryRep
orngReq
uiremen
ts
35.D
ebtS
tascalBulle
n:Qualitya
ndTim
eliness
SierraLeeone2009
Nigeria
16
0
10
20
30
40
50
60
70
80
90
100
1.LegalFramew
ork
2.ManagerialSt
ructu
re:B
orrowingan
dDeb
t-Rela
tedT
ransac
ons
3.ManagerialSt
ructu
re:LoanG
uarantee
4.De
btM
anagem
entS
trategy:Q
ualityo
fCon
tent
5.De
btM
anagem
entS
trategy:D
ecision
-Making
Process
6.Evalu
aon
ofDeb
tManagem
entO
pera
ons
7.Au
dit:Frequ
ency
8Aud
it:App
ropriat
eRespo
nse
Coordin
aon
with
Macroecon
omicPo
licies
9.Fis
calPolicy:P
rovis
ionan
dQualityo
fDeb
t-Servic
eForecasts
10.Fisc
alPo
licy:Av
ailabilit
yand
Qualityo
fInforma
onon
KeyM
acroVariab
lesan
dDSA
11.M
onetaryP
olicy:C
larity
ofSe
para
onbe
tweenD
eMan
dMon
etaryP
olicyOpe
raon
s
12.M
onetaryP
olicy:R
egula
rityo
fInforma
onSh
aring
33.M
onetaryP
olicy:Lim
itedA
ccesstoC
entra
lBankF
inancing
2.Bo
rrowingan
dRela
tedF
inancing
Acvi
es
14.D
omes
cBorrowing:M
arket-B
ased
Mechanis
msa
ndPr
epara
onof
aBo
rrowingPlan
15.D
omes
cBorrowing:A
vailability
andQ
ualityo
fDocum
entedP
rocedu
res
16.Exte
rnalBo
rrowing:B
orrowingPlanan
dAssessm
ento
fCostsandT
erms
17.Exte
rnalBo
rrowing:A
vailability
ofDocum
entedP
rocedu
res
18.ExternalBorrowing:In
volve
men
tofLegalAd
visers
19.LoanG
uarantees:Av
ailabilit
yand
Qualityo
fDocum
entedP
olicie
sand
Proced
ures
20.O
n-len
ding:Av
ailabilit
yand
Qualityo
fDocum
entedP
olicie
sand
Proced
ures
21.D
eriva
ves:Av
ailabilit
yand
Qualityo
fDocum
entedP
olicie
sand
Proced
ures
CashFlow
Forecasngan
dCashB
alanceM
anagem
ent
22.Effe
cveCa
shFlow
Forecasng
23.Effe
cveCa
shBala
nceM
anagem
ent
Opera
onalRiskM
anagem
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24.D
ebtA
dministr
aon
:Availability
andQ
ualityo
fDocum
entedP
rocedu
resforDeb
tServic
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25.D
ebtA
dministr
aon
:Availability
andQ
ualityo
fDocum
entedP
rocedu
resforDataR
ecordin
gand
Storage
27.D
ataS
ecurity
:Frequ
encyof
Back-U
psan
dSecurity
ofSt
orage
28.Segrega
onof
Du
es
29.StaffCa
pacitya
ndHum
anResou
rceM
anagem
ent
30.O
pera
onalRiskM
anagem
ent,Bu
sinessC
onnu
ity,and
Disa
sterR
ecoveryP
lans
DebtRecordsan
dRep
orng
31.D
ebtR
ecords:C
omple
tene
ssan
dTim
eline
ss
32.D
ebtR
ecords:R
egistrySy
stem
33.C
entra
lGovernm
entD
ebtD
ata:Statutorya
ndM
andatoryRe
porngRe
quire
men
ts
34.P
ublicSe
ctorD
ebtD
ata:Statutorya
ndM
andatoryRep
orngReq
uirem
ents
35.D
ebtS
tascalBulle
n:Qualitya
ndTimeline
ss
Nigeria2013
Sub-national DeMPA in Nigeria
36 States and Federal CapitalTerritory, and 774 localgovernments.
Central government controlsthe sub-national externalborrowings (not allowed toborrow directly
States can borrow fromdomestic Capital Market,commercial banks
centre controls the bulk ofthe states autonomy inspending.
18
Generally weak legal framework on authorization to undertake other debt management activities especially issue loan guarantees, and on external audit .
Fragile managerial structure for SNG borrowings and debt-related transactions .
No debt management strategy.
No annual borrowing plan for the aggregate borrowing requirement, No, detail assessment cost/risk of borrowings and options before borrowing is undertaken.
No documented procedures for the processing of debt-related and other payments and receivables
Very weak debt data administration and data security
Absence of capacity and business continuity
Low quality cash flow forecasting and absence of cash balance management
Sub-national DeMPA in Nigeria
19
Noticeable impact of DeMPA in the region
20
Noticeable impact of DeMPA in the region
Review of legal framework for debt management particularly lawsespecially in Sierra Leone and Gambia – Ghana and Liberia is currently inprogress;
Development of DeMPA tracking grid in some countries;
Regular reporting (statistical bulletin and websites);
Review of managerial structure in most countries;
Regular conduct of debt sustainability analysis (DSA) in all the countries
Production of debt strategy document although implementation of thestrategy is weak
21
Noticeable impact of DeMPA in the region
Debt data administration and data security –all the member states acquired andUse state of the art debt recoding and management system for recoding and managing both domestic and external debt data and other debt related transactions
Multidisciplinary loan negotiation teams are visible in all our countries especially inclusion of qualified lawyers at the very beginning.