Debt Management Performance Assessment : Lesotho

Debt Management Performance Assessment : Lesotho

From September 21 to September 28, 2012, a joint World Bank and Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) team visited Maseru, Lesotho to undertake a comprehensive assessment of debt management function...

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Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
Published: World Bank, Washington, DC 2020
Subjects:
DEBT MANAGEMENT
RISKS
TECHNICAL ASSISTANCE
GOVERNANCE
TRANSPARENCY
MACROECONOMIC MANAGEMENT
BORROWING
Online Access:http://documents.worldbank.org/curated/en/670641578587952386/Lesotho-Debt-management-performance-assessment
http://hdl.handle.net/10986/33213
id okr-10986-33213
recordtype oai_dc
spelling okr-10986-332132021-04-23T14:05:18Z Debt Management Performance Assessment : Lesotho World Bank DEBT MANAGEMENT RISKS TECHNICAL ASSISTANCE GOVERNANCE TRANSPARENCY MACROECONOMIC MANAGEMENT BORROWING From September 21 to September 28, 2012, a joint World Bank and Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) team visited Maseru, Lesotho to undertake a comprehensive assessment of debt management functions. The team used the Debt Management Performance Assessment (DeMPA) tool. In the governance and strategy area, there is a clear delegation to the minister of finance for borrowing and issuance of guarantees, but the mechanisms for coordination are not well developed. The coordination with macroeconomic policies generally meets the minimum requirements even though there is no clear separation with monetary operations. Cash management is not actively conducted despite very large cash balances in the Central Bank of Lesotho (CBL). There is no cash flow forecasting and no interest is earned on government cash balances. Strengths have been identified in the operational risk management area. There is a duality requirement for recording of both domestic and external loans. The debt records are not complete as domestic guarantees generally are not recorded. The treasury bonds and bills are recorded by the Public Debt Management Division (PDMD) with an average lag of three months. 2020-01-22T16:09:44Z 2020-01-22T16:09:44Z 2012-09 Report http://documents.worldbank.org/curated/en/670641578587952386/Lesotho-Debt-management-performance-assessment http://hdl.handle.net/10986/33213 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Debt Management Performance Assessment Economic & Sector Work Africa Lesotho
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic DEBT MANAGEMENT
RISKS
TECHNICAL ASSISTANCE
GOVERNANCE
TRANSPARENCY
MACROECONOMIC MANAGEMENT
BORROWING
spellingShingle DEBT MANAGEMENT
RISKS
TECHNICAL ASSISTANCE
GOVERNANCE
TRANSPARENCY
MACROECONOMIC MANAGEMENT
BORROWING
World Bank
Debt Management Performance Assessment : Lesotho
geographic_facet Africa
Lesotho
description From September 21 to September 28, 2012, a joint World Bank and Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) team visited Maseru, Lesotho to undertake a comprehensive assessment of debt management functions. The team used the Debt Management Performance Assessment (DeMPA) tool. In the governance and strategy area, there is a clear delegation to the minister of finance for borrowing and issuance of guarantees, but the mechanisms for coordination are not well developed. The coordination with macroeconomic policies generally meets the minimum requirements even though there is no clear separation with monetary operations. Cash management is not actively conducted despite very large cash balances in the Central Bank of Lesotho (CBL). There is no cash flow forecasting and no interest is earned on government cash balances. Strengths have been identified in the operational risk management area. There is a duality requirement for recording of both domestic and external loans. The debt records are not complete as domestic guarantees generally are not recorded. The treasury bonds and bills are recorded by the Public Debt Management Division (PDMD) with an average lag of three months.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Debt Management Performance Assessment : Lesotho
title_short Debt Management Performance Assessment : Lesotho
title_full Debt Management Performance Assessment : Lesotho
title_fullStr Debt Management Performance Assessment : Lesotho
title_full_unstemmed Debt Management Performance Assessment : Lesotho
title_sort debt management performance assessment : lesotho
publisher World Bank, Washington, DC
publishDate 2020
url http://documents.worldbank.org/curated/en/670641578587952386/Lesotho-Debt-management-performance-assessment
http://hdl.handle.net/10986/33213
_version_ 1764478237500506112

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