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Capacity Building in Practice: Country Cases

 

 

 

 

 

 

 

 

 

Colombia:
Strengthening the Institutional Framework for Sound Public Debt Management

Until 2003, Colombia’s institutional arrangements for public debt management were fragmented within the Ministry of Finance and Public Credit. The Directorate of Public Credit was responsible for issuing market-friendly longer-dated domestic market government bonds while, the Treasury was responsible for T-Bill issuance and direct negotiations with sub-national governments and state-owned enterprises, which were required by law to invest in government securities. The net result was a fragmented domestic debt market. More...

Indonesia:
Reforms Establish Foundation for Sound Debt Management Practice

Indonesia has undertaken impressive reforms in public debt management over the last decade. Specific examples include the development and publication of a comprehensive debt management strategy and the creation of a consolidated debt management office (DMO) – foundations of sound debt management practice. Based on a 2004 World Bank needs assessment at the request of the Indonesian authorities, the government and the World Bank collaborated on the design of a reform plan. More...

Kenya:
Building a Sequenced Reform Plan

In 2003, the role of Kenya’s Debt Management Department (DMD) of the Ministry of Finance was limited to maintaining and registering external loans and calculating the grant element in external loan proposals. A small staff with limited expertise and burdened with an intermittently functioning, old version of CS-DRMS*, entered information irregularly and sometimes inaccurately. Furthermore, the Central Bank of Kenya and the External Resources Department of the finance ministry undertook borrowing without any guidance from a comprehensive debt management strategy, leading to a fragmented and disorganized debt management operation. More...

Armenia:
Planning for Broader Borrowing Choices

Armenia, which joined the World Bank in 1992 and International Development Agency (IDA) in 1993, began the process of graduating from IDA in 2006. Considering the impact of graduation including the task of managing broader choices for government borrowing and a planned pension reform, Armenia asked the World Bank to carry out an assessment of its public debt management activities and opportunities to expand its local debt market. More...