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. 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.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2014-02
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 https://hdl.handle.net/10986/18953
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