Debt Management Performance Assessment : Kazakhstan

A World Bank mission visited Kazakhstan from July 15-23, 2010, to undertake a comprehensive assessment of debt management operations using the Debt Management Performance Assessment tool (DeMPA). The DeMPA report provides an overview of strengths and weaknesses in government debt management in Kazakhstan, as evaluated at end-July, 2010. The scores demonstrate that areas of strength clearly outnumber areas where policies and practices fall short of minimum standards for effective debt management. Areas of strength include the legal framework, governance, and operational risk management, coordination with fiscal and monetary policies, as well as debt recording and reporting. Such strengths are impressive, taking into account the relatively low debt level and modest recourse to both domestic and external borrowing. However, many areas displaying relatively low scores would benefit from attention and reform. This need is most pressing in the context of developing a medium-term debt management strategy, which would involve outlining the preferred composition of debt based on cost-risk analyses, and would provide guidance not only for the government s borrowing but also for market development.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2011-05
Subjects:	ACCOUNT RISK, ACCOUNTING, ANNUAL BORROWING PLAN, ANNUAL BORROWING PLANS, AUCTION, AUCTIONS, BANK ACCOUNT, BANK ACCOUNTS, BANK DEBT, BANK FINANCING, BANK GUARANTEE, BANKING SECTOR, BANKING SYSTEM, BID, BORROWING PLAN, BORROWING PLANS, BROKERAGE, BROKERAGE FIRMS, BROKERS, BUDGET DEFICIT, BUDGET SURPLUSES, BUDGETING, CAPITAL ADEQUACY, CAPITAL MARKET, CAPITAL MARKET DEVELOPMENT, CAPITAL MARKETS, CASH BALANCE, CASH BALANCES, CASH FLOW, CASH FLOWS, CASH MANAGEMENT, CENTRAL BANK, CENTRAL GOVERNMENT DEBT, CENTRAL SECURITIES DEPOSITORY, COMMERCIAL BANKS, COMMODITY PRICES, COMPOSITION OF DEBT, CONTINGENT LIABILITIES, CONTRACTUAL OBLIGATIONS, COUPON, COUPON DATES, CREDIT RISK, CREDIT RISKS, CREDITOR, CREDITORS, CREDITS, CURRENCY COMPOSITION, DATA STORAGE, DEBT, DEBT DATA, DEBT DATABASE, DEBT FLOWS, DEBT ISSUANCE, DEBT LEVEL, DEBT LEVELS, DEBT MANAGEMENT, DEBT MANAGEMENT ACTIVITIES, DEBT MANAGEMENT ENTITY, DEBT MANAGEMENT OPERATIONS, DEBT MANAGEMENT STRATEGY, DEBT PORTFOLIO, DEBT RATIOS, DEBT RECORDING, DEBT REPAYMENT, DEBT REPORTING, DEBT SECURITIES, DEBT SERVICE, DEBT SERVICE PAYMENTS, DEBT STOCKS, DEBT SUSTAINABILITY, DEBT SUSTAINABILITY ANALYSIS, DEBT TRANSACTIONS, DEBT-SERVICE, DEBTOR, DEBTOR REPORTING SYSTEM, DERIVATIVES, DEVELOPING COUNTRIES, DEVELOPMENT BANK, DISASTER RECOVERY, DISBURSEMENT, DISBURSEMENTS, DIVERSIFICATION, DIVERSIFICATION OF INSTRUMENTS, DOMESTIC BORROWING, DOMESTIC CURRENCY, DOMESTIC DEBT, DOMESTIC DEBT MARKET, DOMESTIC MARKET, ECONOMIC DEVELOPMENT, ECONOMIC POLICY, ELECTRONIC AUCTIONS, ELECTRONIC PAYMENT, EXCHANGE RATE, EXCHANGE RATES, EXISTING DEBT, EXPENDITURES, EXPORT EARNINGS, EXTERNAL BORROWING, EXTERNAL BORROWINGS, EXTERNAL DEBT, EXTERNAL FINANCING, EXTERNAL FUNDING, FINANCIAL ACCOUNTS, FINANCIAL ANALYSIS, FINANCIAL CRISIS, FINANCIAL INSTITUTIONS, FINANCIAL INTERMEDIARY, FINANCIAL MARKETS, FINANCIAL STABILITY, FINANCING NEEDS, FISCAL POLICY, FIXED INTEREST, FIXED INTEREST RATE, FIXED RATE, FOREIGN CURRENCY, FOREIGN INVESTMENT, FOREIGN MARKETS, FORMAL BORROWING, GOVERNMENT BANK, GOVERNMENT BORROWING, GOVERNMENT BORROWINGS, GOVERNMENT BUDGET, GOVERNMENT DEBT, GOVERNMENT GUARANTEE, GOVERNMENT GUARANTEES, GOVERNMENT REVENUES, GOVERNMENT SECURITIES, GUARANTIES, HUMAN RESOURCE, INDEBTEDNESS, INDEXED BONDS, INDIVIDUAL LOAN, INDIVIDUAL SECURITIES, INFLATION, INFORMATION SHARING, INSTRUMENT, INSURANCE, INTEREST PAYMENTS, INTEREST RATE, INTEREST RATES, INTERNAL AUDIT, INTERNATIONAL BOND, INTERNATIONAL BOND MARKETS, INVESTMENT PLANS, INVESTMENT POLICY, INVESTMENT PURPOSES, ISLAMIC BONDS, ISSUANCE, ISSUANCE OF GOVERNMENT SECURITIES, ISSUANCE OF GUARANTEES, LACK OF INFORMATION, LEGAL FRAMEWORK, LENDER, LIMITED ACCESS, LIQUIDITY, LOAN, LOAN CONTRACT, LOAN GUARANTEES, LOCAL CURRENCY, LOCAL GOVERNMENT, LOCAL GOVERNMENTS, LONG-TERM DEBT, LOW DEBT, MACROECONOMIC POLICIES, MARKET ACCESS, MARKET BORROWING, MARKET CONDITIONS, MARKET DEVELOPMENT, MARKET RISKS, MARKET TURNOVER, MATURITIES, MATURITY, MATURITY PERIOD, MONETARY POLICIES, MONETARY POLICY, NATIONAL BANK, NON-PERFORMING LOANS, OIL PRICES, OUTSTANDING DEBT, OUTSTANDING DEBT SECURITIES, OVERDRAFT, OVERDRAFT FACILITY, OVERDRAFTS, PAYMENT ORDERS, PENSION, PENSION FUND, PENSION FUNDS, PENSION SYSTEM, PORTFOLIO, PORTFOLIO CHOICE, PRIMARY MARKET, PRINCIPAL PAYMENTS, PROVISIONING RULES, PUBLIC BORROWING, PUBLIC DEBT, PUBLIC DEBT MANAGEMENT, PUBLIC INVESTMENT, PUBLIC SECTOR DEBT, RECEIPTS, RECESSION, REGISTRY SYSTEM, RISK MANAGEMENT, SAVINGS, SECONDARY MARKET, SECURITIES, SHAREHOLDERS, SOURCE OF FUNDS, SOVEREIGN DEBT, SOVEREIGN ENTITIES, STATE GUARANTEES, STOCK EXCHANGE, STOCK MARKET, STOCK MARKET CAPITALIZATION, STOCKS, SUKUK, SURETIES, T-BILLS, T-BONDS, TAX, TAX POLICY, TOTAL DEBT, TOTAL EXTERNAL DEBT, TRADING, TREASURY, TREATIES, TURNOVER, USE OF DERIVATIVES, WARRANTS,
Online Access:	http://documents.worldbank.org/curated/en/2011/05/16357408/kazakhstan-debt-management-performance-assessment-dempa https://hdl.handle.net/10986/12945
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