Debt management is a complex yet crucial reform area. Support provided by the World Bank helps governments around the world deal with this challenging task. We continue to assist countries in identifying the strengths and weaknesses of their government debt management processes and institutions. A stronger commitment to sound fiscal policy performance and push for implementation of designed debt management reforms is needed for the lasting success of the technical assistance, provided by the WB in cooperation with the IMF and other partners.
The Debt Management Facility program, jointly implemented by the World Bank and the IMF, builds countries’ capacity to strengthen their debt management and make more informed decisions about borrowing and related costs and risks, including through the training and regional workshops for officials from 86 eligible countries.
As part of this program, the team of World Bank experts, comprising Lilia Razlog (course director), Abha Prasad, Coskun Cangoz (WB international consultant) delivered a Regional DeMPA training during August 15-19, 2022, at the Joint Vienna Institute (JVI), Vienna, Austria.
The Debt Management Performance Assessment (DeMPA) is a diagnostic tool used to evaluate a country’s debt management processes and institutions. Through a comprehensive set of indicators spanning the full range of government debt management functions, the DeMPA identifies core strengths and weaknesses. In doing so, it helps strengthen capacity and institutions so that countries can manage their public debt effectively and sustainably. The DeMPA also helps governments that undertake debt management reforms monitor progress toward international practices.
This five-day course achieved the following objectives: (i) informed participants about the updated version of the DeMPA methodology’s main areas of performance measurement while evaluating the central government debt activities, (ii) familiarized participants with the application techniques for evaluating debt management performance, (iii) informed participants about the cross-country experiences and recent trends in sound debt management practices at the central government level.
Government officials from Armenia, Azerbaijan, Bosnia and Herzegovina, Kosovo, Georgia, Kyrgyz Republic, and Uzbekistan, as well as several WB staff attended the training. During the event, debt management officials from Armenia, Georgia, Kosovo, Uzbekistan presented examples of debt management practices in respective countries.
Lilia Razlog, Senior Debt Management Specialist, World Bank