Revised April 2012
1. Within the Bank,1each country management unit (CMU) is responsible for obtaining external debt information from a country or from other sources and ensuring its transmittal to the Development Data Group (DECDG). DECDG cooperates with the CMU in obtaining the information and any necessary clarifications or amplifications of the data.
2. At the beginning of each fiscal year, DECDG provides to the Regional vice presidents (RVPs) and country directors a status report on the external debt of each country that is an active borrower. The report includes an assessment of the adequacy of debt-reporting arrangements and the nature of any inadequacies (e.g., lack of staff, data problems, inadequate administrative arrangements, simple neglect). DECDG posts this report on the Bank's intranet.
3. If DECDG determines that a country's external debt reporting is inadequate, it notifies the country director, who asks the country to provide the required information or to prepare an action plan that would lead to early correction of the deficiencies.
4. The country director and DECDG decide on the acceptability of the country's action plan. If the country director and DECDG do not agree on the acceptability of the action plan, they refer the matter to the RVP for decision.
5. The country director is responsible for consulting with DECDG on the content of the Letter on Financial and Economic Data. With respect to any letters or certificates required by IBRD regarding a borrower's/project implementing entity's financial condition, the TTL will seek advice of the lawyer on the content of such letter or certificate. The Legal Department is responsible for obtaining from the borrower at signing, the approved Letter on Financial and Economic Data that the Bank requires at each loan/credit signing, and any representation certificates that IBRD may require.2
Processing and Data Preparation
6. On receiving annual data submissions from member countries, DECDG uses them to produce standard tables on outstanding debt, projected debt service payments, commitments, and debt capital flows. DECDG normally processes reports in the order in which they are received. However, DECDG may alter its order of priority to meet the time requirements of missions, Country Economic Memoranda, Country Assistance Strategies, or special reports. Staff submit requests for such alterations to the Financial Data Team, DECDG, at least two weeks before the data are required.
7. Under a joint agreement, the Bank and the Organization for Economic Cooperation and Development (OECD) collect information from creditor countries that are members of the OECD's Development Assistance Committee. Participants report on commitments of official loans and grants, private credits insured or guaranteed by official agencies, and the status and transactions of both official and private lending. The Bank and OECD exchange data electronically. The Bank uses these data to enhance the quality of the statistics derived from its debt reporting system, and periodically supplies creditor countries with tables on both the debt positions of developing countries and the lending activity of creditors.
"Bank" includes IBRD and IDA.
See Annexes A, B,and C for these documents.