Strengthening Debt Management Practices - Lessons from Country Experiences and Issues Going Forward
Policy Papers, March 27, 2007
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Bibliographic details
- Published: March 27, 2007
- Series: Policy Papers
Overview
- Publication date: March 27, 2007
- Scope: Reviews Bank-Fund staff experience with strengthening public debt management (PDM) frameworks and capacity in developing countries.
- Core activities reviewed:
- Development of sound practice guidelines by the IMF and the World Bank in 2001.
- A pilot program to assist countries to develop and implement PDM reforms.
- Incorporation of PDM assessment into surveillance where relevant.
- Inclusion of PDM in other Bank and Fund advisory and technical assistance work.
Pilot Program and Participating Countries
- The pilot program assisted 12 countries:
- Bulgaria, Colombia, Costa Rica, Croatia, Indonesia, Kenya, Lebanon, Nicaragua, Pakistan, Sri Lanka, Tunisia, and Zambia.
Key Findings and Lessons Drawn
- Based on Bank-Fund experience and the pilot program, the paper:
- Draws key lessons on strengthening PDM frameworks and capacity.
- Identifies continuing challenges facing debt managers.
- Proposes further capacity building and advisory work in PDM.
Continuing Challenges Facing Debt Managers
- The paper identifies ongoing challenges (as summarized in the source) that justify continued Bank-Fund engagement in PDM capacity building and advisory services.
Proposed Further Capacity Building and Advisory Work
- The paper proposes:
- Continued capacity building in PDM for developing countries.
- Expanded advisory and technical assistance work by the Bank and the Fund.
- Further incorporation of PDM assessment into surveillance and related activities.
Drafting and Supervision Team
- Drafted by a staff team at the IMF and the World Bank, comprising:
- IMF staff: Allison Holland, Andrew Ndeti Kitili, Peter Kunzel, Brian Olden, Michael Papaioannou, Magdalena Polan, Bozena Elzbieta Radzewicz-Bak, Paul Ross, Jay Surti.
- World Bank staff: Phillip Anderson, Vikram Nehru, Abha Prasad, Marc Roland Thomas, Francis Rowe, Eriko Togo, Antonia Velandia, Dana Weist.
- Supervision:
- Udaibir S. Das (IMF) and Phillip Anderson and Vikram Nehru (The World Bank).
Source: Strengthening Debt Management Practices - Lessons from Country Experiences and Issues Going Forward, March 27, 2007 (International Monetary Fund).