Debt Management Reform Plan : Madagascar

The reform plan pillars outlined in this report build on the findings of the 2013 World Bank Debt Management Performance Assessment (DeMPA) for Madagascar and the discussions held during this mission with the central government representatives. Re...

Full description

Bibliographic Details
Main Author:	World Bank
Format:	Economic & Sector Work
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ACCESS TO TRAINING ACCOUNTING ANNUAL BORROWING PLAN AUCTION AUCTION TECHNIQUE AUCTIONS BANK ACCOUNT BANK ACCOUNTS BANK DEBT BENEFICIARY BIDS BOND BONDS BORROWER BORROWING COSTS BORROWING PLAN BORROWING REQUIREMENT BUSINESS ACTIVITIES BUYBACKS CAPACITY BUILDING CAPITAL GRANTS CASH BALANCE CASH BALANCES CASH FLOW CASH FLOWS CASH MANAGEMENT CASH TRANSACTIONS CENTRAL BANK CENTRAL GOVERNMENT DEBT CENTRAL GOVERNMENT DEBTS COMMERCIAL BANKS COMMERCIAL LENDERS COMPOSITION OF DEBT CONTINGENT LIABILITIES COST ESTIMATES CREDIBILITY CREDIT LIMIT CREDIT RATINGS CREDIT RISK CREDIT RISK ASSESSMENT CREDITOR CREDITORS CURRENCY CURRENCY COMPOSITION CURRENT ACCOUNT DEBT DEBT DATA DEBT DATABASE DEBT DISBURSEMENTS DEBT LEGISLATION DEBT MANAGEMENT DEBT MANAGEMENT CAPACITIES DEBT MANAGEMENT POLICIES DEBT MANAGEMENT POLICY DEBT MANAGEMENT STRATEGY DEBT MARKET DEVELOPMENT DEBT OPERATIONS DEBT OUTSTANDING DEBT RELIEF DEBT REPAYMENT DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICING DEBT SOURCE DEBT STOCK DEBT SUSTAINABILITY DEBT SUSTAINABILITY ANALYSIS DEBTORS DEBTS DEDUCTIBLE DEFICIT FINANCING DEFICITS DEGREE OF RISK DERIVATIVE DERIVATIVE CONTRACTS DEVELOPMENT BANK DISASTER RECOVERY DISBURSEMENT DISBURSEMENTS DOMESTIC ARREARS DOMESTIC BORROWING DOMESTIC CURRENCY DOMESTIC DEBT DOMESTIC DEBT MARKET DOMESTIC MARKET DOMESTIC SECURITIES DUE DILIGENCE ECONOMIC GROWTH ENABLING ENVIRONMENT ENFORCEABLE CONTRACT EXCHANGE RATE EXISTING DEBT EXPENDITURES EXPORT GROWTH EXTERNAL BORROWING EXTERNAL BORROWINGS EXTERNAL DEBT EXTERNAL FINANCING FINANCIAL ANALYSIS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL NEEDS FINANCING COSTS FINANCING NEEDS FISCAL POLICY FIXED INTEREST FIXED INTEREST RATE FIXED RATE FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN DONORS FOREIGN EXCHANGE FOREIGN LOANS FOREIGN MARKETS FRAUD FUNDING SOURCES FUNGIBLE GOVERNMENT ACCOUNTS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT INVESTMENT GOVERNMENT SECURITIES GOVERNMENT SPENDING INFLATION INSTITUTIONAL REFORMS INSTRUMENT INTEREST ARREARS INTEREST RATE INTEREST RATE RISK INTEREST RATE SPREAD INTEREST RATE SPREADS INTERNAL AUDIT INTERNATIONAL DEVELOPMENT INVESTMENT OPPORTUNITIES INVESTMENT PROJECTS INVESTMENT PURPOSES ISSUANCE ISSUANCE OF T-BILLS ISSUANCE OF TREASURY BILLS ISSUANCES LACK OF INFORMATION LEGAL FRAMEWORK LENDERS LETTERS OF CREDIT LETTERS OF CREDITS LEVEL OF RISK LEVY LIABILITY LIQUIDITY LIQUIDITY RISK LOAN LOAN AGREEMENT LOAN AGREEMENTS LOAN ANALYSIS LOAN CONTRACT LOAN GUARANTEE LOAN GUARANTEES LOCAL CURRENCY MACROECONOMIC ENVIRONMENT MACROECONOMIC POLICIES MARKET CONDITIONS MARKET DEVELOPMENTS MARKET FRAGMENTATION MARKET INTEREST RATES MARKET PARTICIPANTS MARKETABLE SECURITIES MATURITIES MATURITY MODERN LEGISLATION MONETARY FUND MONETARY POLICIES MONETARY POLICY MULTILATERAL DEBT MULTILATERAL DEBT RELIEF OUTSTANDING DEBT OUTSTANDING DEBT STOCKS PAYMENT OBLIGATIONS PENSION PENSION FUNDS POLITICAL UNCERTAINTY PORTFOLIO PRIMARY DEALER PRIMARY DEALER SYSTEM PRIMARY MARKET PRINCIPAL PAYMENTS PRIVATE SECTOR DEBT PROFITABILITY PUBLIC DEBT PUBLIC FINANCE PUBLIC POLICY REGISTRY SYSTEM REPAYMENTS RESERVES RETURN RISK CONTROL RISK EXPOSURE RISK EXPOSURES RISK MANAGEMENT RISK MITIGATION RISK OF DEBT RISK OF LOSS RISK PROFILE RISK PROFILES SECONDARY MARKET SECONDARY MARKET TRADING SECONDARY TRADING SECURITIES ISSUANCE SECURITIES MARKET SECURITIES MARKET DEVELOPMENT SECURITIES TRANSACTIONS SETTLEMENT SETTLEMENT DATE SHORT MATURITY STOCKS T-BILL T-BILLS TAX TAX LIABILITY TECHNICAL ASSISTANCE TOTAL DEBT TRADING TRANSPARENCY TREASURY TREATY VARIABLE RATE
Online Access:	http://documents.worldbank.org/curated/en/2014/02/19692398/madagascar-debt-management-reform-plan-dempa http://hdl.handle.net/10986/18953

id	okr-10986-18953
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCESS TO TRAINING ACCOUNTING ANNUAL BORROWING PLAN AUCTION AUCTION TECHNIQUE AUCTIONS BANK ACCOUNT BANK ACCOUNTS BANK DEBT BENEFICIARY BIDS BOND BONDS BORROWER BORROWING COSTS BORROWING PLAN BORROWING REQUIREMENT BUSINESS ACTIVITIES BUYBACKS CAPACITY BUILDING CAPITAL GRANTS CASH BALANCE CASH BALANCES CASH FLOW CASH FLOWS CASH MANAGEMENT CASH TRANSACTIONS CENTRAL BANK CENTRAL GOVERNMENT DEBT CENTRAL GOVERNMENT DEBTS COMMERCIAL BANKS COMMERCIAL LENDERS COMPOSITION OF DEBT CONTINGENT LIABILITIES COST ESTIMATES CREDIBILITY CREDIT LIMIT CREDIT RATINGS CREDIT RISK CREDIT RISK ASSESSMENT CREDITOR CREDITORS CURRENCY CURRENCY COMPOSITION CURRENT ACCOUNT DEBT DEBT DATA DEBT DATABASE DEBT DISBURSEMENTS DEBT LEGISLATION DEBT MANAGEMENT DEBT MANAGEMENT CAPACITIES DEBT MANAGEMENT POLICIES DEBT MANAGEMENT POLICY DEBT MANAGEMENT STRATEGY DEBT MARKET DEVELOPMENT DEBT OPERATIONS DEBT OUTSTANDING DEBT RELIEF DEBT REPAYMENT DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICING DEBT SOURCE DEBT STOCK DEBT SUSTAINABILITY DEBT SUSTAINABILITY ANALYSIS DEBTORS DEBTS DEDUCTIBLE DEFICIT FINANCING DEFICITS DEGREE OF RISK DERIVATIVE DERIVATIVE CONTRACTS DEVELOPMENT BANK DISASTER RECOVERY DISBURSEMENT DISBURSEMENTS DOMESTIC ARREARS DOMESTIC BORROWING DOMESTIC CURRENCY DOMESTIC DEBT DOMESTIC DEBT MARKET DOMESTIC MARKET DOMESTIC SECURITIES DUE DILIGENCE ECONOMIC GROWTH ENABLING ENVIRONMENT ENFORCEABLE CONTRACT EXCHANGE RATE EXISTING DEBT EXPENDITURES EXPORT GROWTH EXTERNAL BORROWING EXTERNAL BORROWINGS EXTERNAL DEBT EXTERNAL FINANCING FINANCIAL ANALYSIS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL NEEDS FINANCING COSTS FINANCING NEEDS FISCAL POLICY FIXED INTEREST FIXED INTEREST RATE FIXED RATE FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN DONORS FOREIGN EXCHANGE FOREIGN LOANS FOREIGN MARKETS FRAUD FUNDING SOURCES FUNGIBLE GOVERNMENT ACCOUNTS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT INVESTMENT GOVERNMENT SECURITIES GOVERNMENT SPENDING INFLATION INSTITUTIONAL REFORMS INSTRUMENT INTEREST ARREARS INTEREST RATE INTEREST RATE RISK INTEREST RATE SPREAD INTEREST RATE SPREADS INTERNAL AUDIT INTERNATIONAL DEVELOPMENT INVESTMENT OPPORTUNITIES INVESTMENT PROJECTS INVESTMENT PURPOSES ISSUANCE ISSUANCE OF T-BILLS ISSUANCE OF TREASURY BILLS ISSUANCES LACK OF INFORMATION LEGAL FRAMEWORK LENDERS LETTERS OF CREDIT LETTERS OF CREDITS LEVEL OF RISK LEVY LIABILITY LIQUIDITY LIQUIDITY RISK LOAN LOAN AGREEMENT LOAN AGREEMENTS LOAN ANALYSIS LOAN CONTRACT LOAN GUARANTEE LOAN GUARANTEES LOCAL CURRENCY MACROECONOMIC ENVIRONMENT MACROECONOMIC POLICIES MARKET CONDITIONS MARKET DEVELOPMENTS MARKET FRAGMENTATION MARKET INTEREST RATES MARKET PARTICIPANTS MARKETABLE SECURITIES MATURITIES MATURITY MODERN LEGISLATION MONETARY FUND MONETARY POLICIES MONETARY POLICY MULTILATERAL DEBT MULTILATERAL DEBT RELIEF OUTSTANDING DEBT OUTSTANDING DEBT STOCKS PAYMENT OBLIGATIONS PENSION PENSION FUNDS POLITICAL UNCERTAINTY PORTFOLIO PRIMARY DEALER PRIMARY DEALER SYSTEM PRIMARY MARKET PRINCIPAL PAYMENTS PRIVATE SECTOR DEBT PROFITABILITY PUBLIC DEBT PUBLIC FINANCE PUBLIC POLICY REGISTRY SYSTEM REPAYMENTS RESERVES RETURN RISK CONTROL RISK EXPOSURE RISK EXPOSURES RISK MANAGEMENT RISK MITIGATION RISK OF DEBT RISK OF LOSS RISK PROFILE RISK PROFILES SECONDARY MARKET SECONDARY MARKET TRADING SECONDARY TRADING SECURITIES ISSUANCE SECURITIES MARKET SECURITIES MARKET DEVELOPMENT SECURITIES TRANSACTIONS SETTLEMENT SETTLEMENT DATE SHORT MATURITY STOCKS T-BILL T-BILLS TAX TAX LIABILITY TECHNICAL ASSISTANCE TOTAL DEBT TRADING TRANSPARENCY TREASURY TREATY VARIABLE RATE
spellingShingle	ACCESS TO TRAINING ACCOUNTING ANNUAL BORROWING PLAN AUCTION AUCTION TECHNIQUE AUCTIONS BANK ACCOUNT BANK ACCOUNTS BANK DEBT BENEFICIARY BIDS BOND BONDS BORROWER BORROWING COSTS BORROWING PLAN BORROWING REQUIREMENT BUSINESS ACTIVITIES BUYBACKS CAPACITY BUILDING CAPITAL GRANTS CASH BALANCE CASH BALANCES CASH FLOW CASH FLOWS CASH MANAGEMENT CASH TRANSACTIONS CENTRAL BANK CENTRAL GOVERNMENT DEBT CENTRAL GOVERNMENT DEBTS COMMERCIAL BANKS COMMERCIAL LENDERS COMPOSITION OF DEBT CONTINGENT LIABILITIES COST ESTIMATES CREDIBILITY CREDIT LIMIT CREDIT RATINGS CREDIT RISK CREDIT RISK ASSESSMENT CREDITOR CREDITORS CURRENCY CURRENCY COMPOSITION CURRENT ACCOUNT DEBT DEBT DATA DEBT DATABASE DEBT DISBURSEMENTS DEBT LEGISLATION DEBT MANAGEMENT DEBT MANAGEMENT CAPACITIES DEBT MANAGEMENT POLICIES DEBT MANAGEMENT POLICY DEBT MANAGEMENT STRATEGY DEBT MARKET DEVELOPMENT DEBT OPERATIONS DEBT OUTSTANDING DEBT RELIEF DEBT REPAYMENT DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICING DEBT SOURCE DEBT STOCK DEBT SUSTAINABILITY DEBT SUSTAINABILITY ANALYSIS DEBTORS DEBTS DEDUCTIBLE DEFICIT FINANCING DEFICITS DEGREE OF RISK DERIVATIVE DERIVATIVE CONTRACTS DEVELOPMENT BANK DISASTER RECOVERY DISBURSEMENT DISBURSEMENTS DOMESTIC ARREARS DOMESTIC BORROWING DOMESTIC CURRENCY DOMESTIC DEBT DOMESTIC DEBT MARKET DOMESTIC MARKET DOMESTIC SECURITIES DUE DILIGENCE ECONOMIC GROWTH ENABLING ENVIRONMENT ENFORCEABLE CONTRACT EXCHANGE RATE EXISTING DEBT EXPENDITURES EXPORT GROWTH EXTERNAL BORROWING EXTERNAL BORROWINGS EXTERNAL DEBT EXTERNAL FINANCING FINANCIAL ANALYSIS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL NEEDS FINANCING COSTS FINANCING NEEDS FISCAL POLICY FIXED INTEREST FIXED INTEREST RATE FIXED RATE FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN DONORS FOREIGN EXCHANGE FOREIGN LOANS FOREIGN MARKETS FRAUD FUNDING SOURCES FUNGIBLE GOVERNMENT ACCOUNTS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT INVESTMENT GOVERNMENT SECURITIES GOVERNMENT SPENDING INFLATION INSTITUTIONAL REFORMS INSTRUMENT INTEREST ARREARS INTEREST RATE INTEREST RATE RISK INTEREST RATE SPREAD INTEREST RATE SPREADS INTERNAL AUDIT INTERNATIONAL DEVELOPMENT INVESTMENT OPPORTUNITIES INVESTMENT PROJECTS INVESTMENT PURPOSES ISSUANCE ISSUANCE OF T-BILLS ISSUANCE OF TREASURY BILLS ISSUANCES LACK OF INFORMATION LEGAL FRAMEWORK LENDERS LETTERS OF CREDIT LETTERS OF CREDITS LEVEL OF RISK LEVY LIABILITY LIQUIDITY LIQUIDITY RISK LOAN LOAN AGREEMENT LOAN AGREEMENTS LOAN ANALYSIS LOAN CONTRACT LOAN GUARANTEE LOAN GUARANTEES LOCAL CURRENCY MACROECONOMIC ENVIRONMENT MACROECONOMIC POLICIES MARKET CONDITIONS MARKET DEVELOPMENTS MARKET FRAGMENTATION MARKET INTEREST RATES MARKET PARTICIPANTS MARKETABLE SECURITIES MATURITIES MATURITY MODERN LEGISLATION MONETARY FUND MONETARY POLICIES MONETARY POLICY MULTILATERAL DEBT MULTILATERAL DEBT RELIEF OUTSTANDING DEBT OUTSTANDING DEBT STOCKS PAYMENT OBLIGATIONS PENSION PENSION FUNDS POLITICAL UNCERTAINTY PORTFOLIO PRIMARY DEALER PRIMARY DEALER SYSTEM PRIMARY MARKET PRINCIPAL PAYMENTS PRIVATE SECTOR DEBT PROFITABILITY PUBLIC DEBT PUBLIC FINANCE PUBLIC POLICY REGISTRY SYSTEM REPAYMENTS RESERVES RETURN RISK CONTROL RISK EXPOSURE RISK EXPOSURES RISK MANAGEMENT RISK MITIGATION RISK OF DEBT RISK OF LOSS RISK PROFILE RISK PROFILES SECONDARY MARKET SECONDARY MARKET TRADING SECONDARY TRADING SECURITIES ISSUANCE SECURITIES MARKET SECURITIES MARKET DEVELOPMENT SECURITIES TRANSACTIONS SETTLEMENT SETTLEMENT DATE SHORT MATURITY STOCKS T-BILL T-BILLS TAX TAX LIABILITY TECHNICAL ASSISTANCE TOTAL DEBT TRADING TRANSPARENCY TREASURY TREATY VARIABLE RATE World Bank Debt Management Reform Plan : Madagascar
geographic_facet	Africa Madagascar
description	The reform plan pillars outlined in this report build on the findings of the 2013 World Bank Debt Management Performance Assessment (DeMPA) for Madagascar and the discussions held during this mission with the central government representatives. Recent presidential elections and envisaged inauguration of the new government provides an enabling environment for engaging into broad economic and institutional reforms. Improvement of the governance practices and continuation of the public finance management reforms are among priorities stipulated in the President's reform agenda. It is important to mention that during the last two years MoFB's Treasury undertook a number of initiatives to improve government debt management. The Public Debt Directorate (DDP) was reorganized in 2012 and additional staff was hired during the last calendar year. Improvement of existing legal framework was initiated by the DDP in close cooperation with legal advisers of the Treasury. The main areas of reforms identified include: (i) improvement of the legal framework, (ii) formulation of a debt management strategy, (iii) improvement of central government borrowing policies, and (iv) operational risk management.
format	Economic & Sector Work
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Debt Management Reform Plan : Madagascar
title_short	Debt Management Reform Plan : Madagascar
title_full	Debt Management Reform Plan : Madagascar
title_fullStr	Debt Management Reform Plan : Madagascar
title_full_unstemmed	Debt Management Reform Plan : Madagascar
title_sort	debt management reform plan : madagascar
publisher	Washington, DC
publishDate	2014
url	http://documents.worldbank.org/curated/en/2014/02/19692398/madagascar-debt-management-reform-plan-dempa http://hdl.handle.net/10986/18953
_version_	1764443437913866240
spelling	okr-10986-189532021-04-23T14:03:50Z Debt Management Reform Plan : Madagascar World Bank ACCESS TO TRAINING ACCOUNTING ANNUAL BORROWING PLAN AUCTION AUCTION TECHNIQUE AUCTIONS BANK ACCOUNT BANK ACCOUNTS BANK DEBT BENEFICIARY BIDS BOND BONDS BORROWER BORROWING COSTS BORROWING PLAN BORROWING REQUIREMENT BUSINESS ACTIVITIES BUYBACKS CAPACITY BUILDING CAPITAL GRANTS CASH BALANCE CASH BALANCES CASH FLOW CASH FLOWS CASH MANAGEMENT CASH TRANSACTIONS CENTRAL BANK CENTRAL GOVERNMENT DEBT CENTRAL GOVERNMENT DEBTS COMMERCIAL BANKS COMMERCIAL LENDERS COMPOSITION OF DEBT CONTINGENT LIABILITIES COST ESTIMATES CREDIBILITY CREDIT LIMIT CREDIT RATINGS CREDIT RISK CREDIT RISK ASSESSMENT CREDITOR CREDITORS CURRENCY CURRENCY COMPOSITION CURRENT ACCOUNT DEBT DEBT DATA DEBT DATABASE DEBT DISBURSEMENTS DEBT LEGISLATION DEBT MANAGEMENT DEBT MANAGEMENT CAPACITIES DEBT MANAGEMENT POLICIES DEBT MANAGEMENT POLICY DEBT MANAGEMENT STRATEGY DEBT MARKET DEVELOPMENT DEBT OPERATIONS DEBT OUTSTANDING DEBT RELIEF DEBT REPAYMENT DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICING DEBT SOURCE DEBT STOCK DEBT SUSTAINABILITY DEBT SUSTAINABILITY ANALYSIS DEBTORS DEBTS DEDUCTIBLE DEFICIT FINANCING DEFICITS DEGREE OF RISK DERIVATIVE DERIVATIVE CONTRACTS DEVELOPMENT BANK DISASTER RECOVERY DISBURSEMENT DISBURSEMENTS DOMESTIC ARREARS DOMESTIC BORROWING DOMESTIC CURRENCY DOMESTIC DEBT DOMESTIC DEBT MARKET DOMESTIC MARKET DOMESTIC SECURITIES DUE DILIGENCE ECONOMIC GROWTH ENABLING ENVIRONMENT ENFORCEABLE CONTRACT EXCHANGE RATE EXISTING DEBT EXPENDITURES EXPORT GROWTH EXTERNAL BORROWING EXTERNAL BORROWINGS EXTERNAL DEBT EXTERNAL FINANCING FINANCIAL ANALYSIS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL NEEDS FINANCING COSTS FINANCING NEEDS FISCAL POLICY FIXED INTEREST FIXED INTEREST RATE FIXED RATE FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN DONORS FOREIGN EXCHANGE FOREIGN LOANS FOREIGN MARKETS FRAUD FUNDING SOURCES FUNGIBLE GOVERNMENT ACCOUNTS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT INVESTMENT GOVERNMENT SECURITIES GOVERNMENT SPENDING INFLATION INSTITUTIONAL REFORMS INSTRUMENT INTEREST ARREARS INTEREST RATE INTEREST RATE RISK INTEREST RATE SPREAD INTEREST RATE SPREADS INTERNAL AUDIT INTERNATIONAL DEVELOPMENT INVESTMENT OPPORTUNITIES INVESTMENT PROJECTS INVESTMENT PURPOSES ISSUANCE ISSUANCE OF T-BILLS ISSUANCE OF TREASURY BILLS ISSUANCES LACK OF INFORMATION LEGAL FRAMEWORK LENDERS LETTERS OF CREDIT LETTERS OF CREDITS LEVEL OF RISK LEVY LIABILITY LIQUIDITY LIQUIDITY RISK LOAN LOAN AGREEMENT LOAN AGREEMENTS LOAN ANALYSIS LOAN CONTRACT LOAN GUARANTEE LOAN GUARANTEES LOCAL CURRENCY MACROECONOMIC ENVIRONMENT MACROECONOMIC POLICIES MARKET CONDITIONS MARKET DEVELOPMENTS MARKET FRAGMENTATION MARKET INTEREST RATES MARKET PARTICIPANTS MARKETABLE SECURITIES MATURITIES MATURITY MODERN LEGISLATION MONETARY FUND MONETARY POLICIES MONETARY POLICY MULTILATERAL DEBT MULTILATERAL DEBT RELIEF OUTSTANDING DEBT OUTSTANDING DEBT STOCKS PAYMENT OBLIGATIONS PENSION PENSION FUNDS POLITICAL UNCERTAINTY PORTFOLIO PRIMARY DEALER PRIMARY DEALER SYSTEM PRIMARY MARKET PRINCIPAL PAYMENTS PRIVATE SECTOR DEBT PROFITABILITY PUBLIC DEBT PUBLIC FINANCE PUBLIC POLICY REGISTRY SYSTEM REPAYMENTS RESERVES RETURN RISK CONTROL RISK EXPOSURE RISK EXPOSURES RISK MANAGEMENT RISK MITIGATION RISK OF DEBT RISK OF LOSS RISK PROFILE RISK PROFILES SECONDARY MARKET SECONDARY MARKET TRADING SECONDARY TRADING SECURITIES ISSUANCE SECURITIES MARKET SECURITIES MARKET DEVELOPMENT SECURITIES TRANSACTIONS SETTLEMENT SETTLEMENT DATE SHORT MATURITY STOCKS T-BILL T-BILLS TAX TAX LIABILITY TECHNICAL ASSISTANCE TOTAL DEBT TRADING TRANSPARENCY TREASURY TREATY VARIABLE RATE The reform plan pillars outlined in this report build on the findings of the 2013 World Bank Debt Management Performance Assessment (DeMPA) for Madagascar and the discussions held during this mission with the central government representatives. Recent presidential elections and envisaged inauguration of the new government provides an enabling environment for engaging into broad economic and institutional reforms. Improvement of the governance practices and continuation of the public finance management reforms are among priorities stipulated in the President's reform agenda. It is important to mention that during the last two years MoFB's Treasury undertook a number of initiatives to improve government debt management. The Public Debt Directorate (DDP) was reorganized in 2012 and additional staff was hired during the last calendar year. Improvement of existing legal framework was initiated by the DDP in close cooperation with legal advisers of the Treasury. The main areas of reforms identified include: (i) improvement of the legal framework, (ii) formulation of a debt management strategy, (iii) improvement of central government borrowing policies, and (iv) operational risk management. 2014-07-21T20:19:41Z 2014-07-21T20:19:41Z 2014-02 http://documents.worldbank.org/curated/en/2014/02/19692398/madagascar-debt-management-reform-plan-dempa http://hdl.handle.net/10986/18953 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work Economic & Sector Work :: Debt Management Performance Assessment Africa Madagascar

Debt Management Reform Plan : Madagascar

Similar Items