MAKING A DIFFERENCE
The DMF has created tangible impact in debt management practices across the governments of DMF-eligible countries ranging from improved debt management strategies, stronger debt management institutions, and enhanced debt transparency.
Informed debt management reforms: Based on results from a survey to debt management offices (DMO) of DMF-eligible countries, DMF capacity building informed on average 60% of debt reforms that countries undertook on legislative changes, institutional setup of debt management offices, development of the domestic debt market, and preparation of the debt management strategies and DSAs in these countries with DMF financed activities in the last five years.
Mainstreaming sound practices on debt management: Knowledge products and tools supported by the DMF have contributed to the global knowledge base on debt management.
Enhanced debt management performance: Debt Management Performance Assessment (DeMPA) ratings have improved over time in many areas such as legal framework, managerial structure, quality of the debt management strategy, publication of statistical bulletin, coordination with the central bank, documented procedures for domestic market borrowing, and staff capacity.
Improved quality of debt management strategies: The number of countries with an approved or published Debt Management Strategy has increased. Moreover, additional countries are fulfilling the DeMPA quality requirements for debt management strategy indicators.
More reforms implemented: Countries that benefitted from technical assistance on MTDS or Reform Plan were much more likely to publish debt management strategies and implement debt management reforms, respectively.
Improved debt transparency: The number of debt management strategies published by DMF-eligible countries increased from three in 2010 to 39 in 2018. DeMPA indicators point to increases in quality and timeliness of debt statistical bulletin and reporting to the legislature.
Progress toward debt recording and reconciliation: DMF-eligible countries have made significant progress toward debt recording and reconciliation. Countries using a consolidated system to maintain domestic, external debt and guarantee records perform significantly better than those countries where only partial debt records are stored in a centralized system, and other records in other systems or overall only other systems are used.
Peer-to-peer learning programs - a successful impetus for reform. The Debt Manager Practitioners’ Program (DMPP) participation has led to successful implementation of debt-related reforms after the program. DMF Stakeholders forum, Debt Management Network and DMF Newsletters promote sharing of knowledge and experiences and keep debt management practitioners connected.