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Debt Management Stakeholder's Conference

March 5-6, 2008 | Oslo, Norway

The Debt Management Stakeholders’ Conference will be held in Oslo on March 5 and 6, 2008. The conference is jointly hosted by The World Bank and the Norwegian Ministry of Foreign Affairs.  A broad array of stakeholders involved in debt management capacity building have been invited, including international and regional technical assistance (TA) agencies, private sector TA providers, debt managers from developing countries, as well as bilateral donors and multilateral development banks.  Details on the conference program will be sent in due course.

The purpose of the conference is to present debt management capacity building and technical assistance services provided by The World Bank and other institutions, to share important experience and lessons, and in light of this to discuss how co-ordination among the various providers may be improved, and the effectiveness of TA may be enhanced for the benefit of client countries.  The participation of country authorities will in this sense provide valuable insight into these critical issues.

Context and Rationale

The HIPC Debt Relief Initiative and the Multilateral Debt Relief Initiative (MDRI) have significantly reduced the debt burden in many countries, freeing critical resources to help finance governments’ growth programs.  The perception of a large fiscal space in some low-income countries (LICs), however, has led to the emergence of new creditors and opened new opportunities to access non-concessional sources of financing.  These opportunities, while welcome, raise new risks.  Countries are frequently faced with new and conflicting proposals from the market, and other bilateral creditors, on new financing options, while, in many cases, lacking a coherent framework to fully assess the related costs and risks.  Poor financial choices, including on the terms on which new debt is contracted, could contribute to the re-emergence of debt vulnerabilities in these countries, putting debt sustainability at risk.

In response, The World Bank is scaling up its work on debt management technical assistance in LICs and is in the process of developing a systematic and comprehensive framework to help country authorities undertake Debt Management Performance Assessments (DeMPA) and develop effective Medium-Term Debt Management Strategies (MTDS), which are consistent with maintaining debt sustainability.  This strategy was endorsed by the Board of the World Bank during discussion in May 2007 of the board paper on strengthening debt management practices, jointly prepared with the International Monetary Fund.

The immediate work program encompasses assessment of debt management performance in up to 60 LICs over three years, and development and application of a toolkit for the design of debt strategies in 4 to 6 countries.  In addition, it is proposed to establish a multi-donor technical assistance facility, the Debt Management Facility for LICs (DeMFLIC), a vehicle that would provide support to LICs over the long-term through the systematic application of DeMPA, the development of MTDSs, management of a Debt Managers’ Practitioners Program, and the promotion of better coordination in the delivery of debt management TA.

Conference Materials

Panel Presentations

  • Trends and Challenges in Government Debt Management in Developing Countries - Phillip Anderson, World Bank [Document]
  • Emerging Challenges in Government Debt Management - Matthew Martin, Debt Relief International [Document]
  • Debt Management TA Programmes - Scope for Coordination? - Dag Aarnes, Assist Consulting AS [Document] (For further details, please refer to the final study distributed by the Norwegian Ministry of Foreign Affairs on July 1, 2008.)
  • DeMPA - New Tool To Improve Sovereign Debt Management Capacity - Tomas Magnusson, World Bank [Document]
  • Debt Management Performance Assessment in Nicaragua - Carlos Sequeira, Central Bank of Nicaragua [Document]
  • Medium Term Debt Management Strategy: A World Bank-IMF Toolkit - Mark Thomas, World Bank [Document]
  • Debt Management Facility for Low-Income Countries (DeMFLIC) - Thor-Jurgen Loberg, World Bank [Document]
  • Scope for Coordination Between Service Providers: A Regional Organisation Perspective - Anna Msutze, MEFMI [Document]
  • Perspectives on the Way Forward - Kenneth Coates, Centre for Latin American Monetary Studies (CEMLA) [Document]

Summary

Post Conference Materials

  • Concept Note on DeMFLIC - April 2008 [Document]
  • Terms of Reference - A Study of Sovereign Debt Management Programmes and Initiatives [Document]

Last updated: 2008-07-01




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