GDDS DQAF Category Templates

Uganda GDDS - DQAF View Government debt GDDSKey_DQAF Format for Document Completion For prompt posting of metadata, please use the following guidelines when revising the templates: * Format the templates as you would like them to be posted on the DSBB (i.e., no red or strikethrough type or manual tracked changes); * Use plain black text for most content, with other formatting used only sparingly (italics for manual/publication titles, blue or bold text for titles and headers, …); * Save the documents in Word format (.doc) throughout the metadata update process; and Avoid deleting any fields or coding in the template. GDDSKey_DQAF Help on Document Navigation:  To show navigation tree in the side pane, select the menu: View -> Documentmap  Click here to complete Contact Person(s) information  Click here to go to Table of Contents H.Header data H.0.1 National Descriptor [National Descriptor] Government debt

H.0.2 Metadata Update date [Metadata Last Updated]

H.0.4 Certification date [Certification date]

H.0.8 Metadata also cover the encouraged extension [Metadata also cover the encouraged extension]

H.0.9 Country Specific Indicator [Country-Specific Indicator] H.0.10 National Descriptor for Enc Extension [National Descriptor for Encouraged Extension] Monthly data for debt service is generated while only Quarterly data for debt stock is produced.

H.0.11 National Methodological Publication [National Methodological Publication]

0. Prerequisites 0.2 Resources 0.2.1 Staff, facilities, computing resources, and financing (Encouraged) [Staff, facilities, computing resources, and financing for statistical programs currently available as well as what would be required for programmed statistical outputs.] The DMFAS system facilitates preparation and dissemination of Debt Statistical Bulletins

The Sovereign Liabilities Risk Model also enhances s the above. This model was prepared by BOU to enrich our analysis of debt and risk exposures.

2. Methodology 2.1 Concepts and definitions 2.1.1 Concepts and definitions (Required) [Degree to which the overall structure of concepts and definitions follows internationally accepted standards, guidelines, or good practices.] Using of the World Bank/IMF Debt Guide, data on the outstanding stock of central government domestic debt is compiled monthly by the Ministry of Finance and disseminated quarterly in the Bank of Uganda's "Quarterly Economic Report" and replicated in its "Annual Report".

The data is classified by holders, and by type of government debenture, stock or Treasury Bills. Virtually all domestic debentures are provided in the form of Treasury Bills, which offer market interest rates and have a term not exceeding one year. Partial data on the stock of domestic debt is disseminated monthly in the Bank of Uganda's "Economic and Financial Indicators". These data include total central government outstanding non-bank domestic borrowing, and commercial bank and Bank of Uganda holdings of Government securities. Data on the outstanding stock of central government external debt is provided in the annual publication "Background to the Budget" published by the Ministry of Finance on the occasion of the budget's presentation to Parliament. These data are inclusive of all foreign debt, (excluding guaranteed debt which is treated as contingent liability), valued in millions of dollars, and are identified by the level of external debt to individual multilateral agencies and bilateral loans, as well as summary information on commercial bank and non-bank loans, and other. There is no formal secondary market in domestic government securities, but in principle these could trade on the stock market.

2.2 Scope 2.2.1 Scope (Required) 2.2.1.1 Scope of the data [Scope of the data.] The debt data includes Public and Publicly guaranteed external Debt

These data cover all outstanding debt of the Ugandan central government, both domestic and external, the latter of which also include government obligations to the IMF. Government- guaranteed debt is not included, nor is the debt incurred by nonfinancial public enterprises. Local governments are proscribed by law to incur debt, but some units have nonetheless obtained small credit facilities; any such debts are also not included in central government debt accounts.

2.2.1.2 Exceptions to coverage [Exceptions to coverage.]

No consideration is given to contingent liabilities and private external debt. This is excluded in the debt data.

2.2.1.3 Unrecorded activity [Unrecorded activity.]

2.3 Classification/sectorization 2.3.1 Classification/sectorization (Required as relevant to data category) [Broad consistency of classification/sectorization systems used with internationally accepted standards, guidelines, or good practices.] Data on the outstanding stock of central government domestic debt is compiled monthly by the Ministry of Finance and disseminated quarterly in the Bank of Uganda's "Quarterly Economic Report" and replicated in its "Annual Report". The bulletin provides data classified by holders, and by type of government debenture, stock or Treasury Bills. Virtually all domestic debentures are provided in the form of Treasury Bills, which offer market interest rates and have a term not exceeding one year. Partial data on the stock of domestic debt is disseminated monthly in the Bank of Uganda's "Economic and Financial Indicators". These data include total central government outstanding non-bank domestic borrowing, and commercial bank and Bank of Uganda holdings of Government securities. Data on the outstanding stock of central government external debt is provided in the annual publication "Background to the Budget" published by the Ministry of Finance on the occasion of the budget's presentation to Parliament. These data are inclusive of all foreign debt, (excluding guaranteed debt which is treated as contingent liability), valued in millions of dollars, and are identified by the level of external debt to individual multilateral agencies and bilateral loans, as well as summary information on commercial bank and non-bank loans, and other. There is no formal secondary market in domestic government securities, but in principle these could trade on the stock market. Our debt breakdown follows the classification below.  Multilateral  Bilateral  Paris Club Creditors  Non Paris Club Creditors  External Debt  Domestic Debt

2.4 Basis for recording 2.4.1 Valuation (Required as relevant to data category) [Types of prices (market, historical, administrative, basic, purchasers’, producer, etc.) used to value flows and stocks.] Valuation of the debt data is made by reference to the Market or current date specific currency exchange rates. All our current debts’ interest rate is fixed. There is therefore no need to refer to the market currency specific interest rates in determining the value. What changes though, as mentioned, it is the exchange rates

2.4.2 Recording basis (Required as relevant to data category) [Degree to which recording meets requirements for accrual accounting.] Reporting is on cash basis. We do not use accrual accounting.

2.4.3 Grossing/netting procedures (Encouraged) [Broad consistency of grossing/netting procedures with internationally accepted standards, guidelines, or good practices.]

3. Accuracy and reliability 3.1 Source data 3.1.1 Source data collection programs (Required) [Comprehensiveness of source data from administrative and survey data collection programs, and appropriateness of the collection modality for country-specific conditions.] Central government debt data are, in the case of foreign debt, compiled by the Statistics Department of the Bank of Uganda in consultation with the Aid Liaison Department at the Ministry of Finance, and for domestic debt, by the Research Department of the Bank of Uganda. The Macroeconomic Policy Department of the Ministry of Finance provides guidance for both operations. An External Debt Strategy committee chaired by the Minister of Finance in principle oversees and coordinates government debt management, but in practice these activities are delegated to operational branches at the Bank of Uganda, most specifically the Foreign Operations Department for foreign debt, and the Research Department for domestic debt, which mainly uses open market sales of domestic treasury bills to adjust the supply of broad money.

3.1.2 Source data definitions, scope, classifications, valuation, and time of recording (Encouraged) [Degree to which source data approximate the definitions, scope, classifications, valuation, and time of recording required (as described in 2.1.1-2.4.3).]

3.1.3 Source data timeliness (Encouraged) [Source data timeliness relative to what is required for producing statistical outputs whose timeliness meets applicable data standard (SDDS requirements or GDDS recommendations).] The central government debt data is availed within two months after the end of the reference year.

3.2 Assessment of source data 3.2.1 Source data assessment (Encouraged) [Routine assessment of source data—including censuses, sample surveys, and administrative records (e.g., for coverage, sample error, response error, and nonsampling error); whether assessment results are monitored; how results are used to guide statistical processes.] The macroeconomic policy department of the MoFPED, undertakes monthly reconciliations with the central bank. Actual payments are cross checked against scheduled payments and any differences in timing are queried.

3.3 Statistical techniques 3.3.1 Source data statistical techniques (Required as relevant to data category) [Statistical techniques in data compilation to deal with data sources (e.g., to align them with target concepts from 2.1.1).] In reference to the World Bank/IMF Debt Guide, data for the Central Government debt are compiled from the records of the statistics and Research Department of the Bank of Uganda, and the Macroeconomic Policy Department of the Ministry of Finance, as directed by the Inter-Ministry committee on debt operations. Data are usually available for internal purposes within four weeks following the end of the month, but only disseminated on a quarterly basis in the case of domestic debt and annually for external debt. Unrealized profits and losses from the revaluation of central government foreign exchange holdings are treated as financing transactions in the accounts for government operations.

3.3.2 Other statistical procedures (Required as relevant to data category) [Statistical techniques employed in other statistical procedures (e.g., data adjustments and transformations, and statistical analysis).]

3.4 Data validation 3.4.1 Validation of intermediate results (Encouraged) [Assessment and investigation of statistical discrepancies in intermediate data.]

Assessment and investigation of statistical discrepancies in intermediate data is done through data validation and reconciliations prior to reporting

3.4.2 Assessment of intermediate data (Encouraged) [Assessment and investigation of statistical discrepancies in intermediate data.] As in 3.4.1 above, this is also done through data validation and reconciliation exercises.

3.4.3 Assessment of discrepancies and other problems in statistical outputs (Encouraged) [Investigation of statistical discrepancies and other potential indicators of problems in statistical outputs.] Usually, any discrepancies identified during the reconciliation of data with stakeholders are analyzed and corrected

3.5 Revision studies 3.5.1 Revision studies and analyses (Encouraged) [Periodicity with which studies and analyses of revisions are carried out; whether and how they are used internally to inform statistical processes (see also 4.3.3).]

4. Serviceability 4.1 Periodicity and timeliness 4.1.1 Periodicity (Required) [Periodicity of statistical outputs relative to applicable dissemination standard (SDDS requirement or GDDS recommendation).] Domestic debt data: Quarterly (The online IMF/World Bank GDDS reporting is on a quarterly basis)

External debt data: Quarterly

4.1.2 Timeliness (Required) [Timeliness of statistical outputs relative to applicable dissemination standard (SDDS requirement or GDDS recommendation).] Domestic debt data: 3 months (Regular Internal statistics are disseminated to the users on a quarterly basis).

External debt data: There is a time lag of one month

4.2 Consistency 4.2.1 Internal consistency (Required as relevant to data category) [Consistency of statistics within the dataset.] This is achieved through regular reconciliation with stakeholders.

4.2.2 Temporal consistency (Encouraged) [Consistency or reconcilability of statistics over a reasonable period of time.] Provisional statistics may be provided but later confirmed after thorough reconciliation. 4.2.3 Intersectoral and cross-domain consistency (Encouraged) [Consistency or reconcilability of statistics with those obtained through other data sources and/or statistical frameworks.]

Macroeconomic Policy department meets with Treasury department and BoU more often (every quarter) to reconcile the data and check for consistency regarding changes in stock of debt (disbursements and prepayments)

4.3 Revision 4.3.1 Revision schedule (Required) [Transparency and regularity of revision schedule.] There is no written policy on revisions. Revisions during the year are performed routinely and are incorporated in the disseminated data, with explanations provided in footnotes. The revisions policy and practices are not made public.

4.3.2 Identification of preliminary and/or revised data (Required) [Identification of preliminary and/or revised data.] True, we identify preliminary and revised.

4.3.3 Dissemination of revision studies and analyses (Encouraged) [Dissemination of revision studies and analyses (see also 3.5.1).] Studies and analyses of revisions are not disseminated to the public. Reasons for revisions are investigated and the revisions are footnoted on the relevant publication tables.

5. Accessibility 5.1 Data 5.1.1 Statistical presentation (Required) [Statistics are presented in a way that facilitates proper interpretation and meaningful comparisons (layout and clarity of text, tables, and charts).] Debt data is available in several publications including: Bi-annual budget performance reports, background to the budget, budget speeches, and the detailed revenue and expenditure estimates and the annual reports of the Bank of Uganda and UBOS. The bi annual budget performance report assesses the implementation of the budget and typically provides comparative performance and actual outturns. Additionally, it includes text explaining the statistics underlying budget performance. In the other publications, annual time series of up to 4 years along with commentary, charts, and graphs on debt. 5.1.2 Dissemination media and format (Required) 5.1.2.1 Hard copy - New release [Hard copy - New release.] Debt statistics are disseminated on request and a hard copy sent to stake holders including parliament, the central bank and the IMF. There is no particular routine hard copy dissemination of debt data. However, debt statistics are submitted to the Background to the budget.

5.1.2.2 Hard copy - Weekly bulletin [Hard copy - Weekly bulletin.] Not Feasible

5.1.2.3 Hard copy - Monthly Bulletin [Hard copy - Monthly Bulletin.] In plan. - To be done

5.1.2.4 Hard copy - Quarterly bulletin [Hard copy - Quarterly bulletin.] In plan. - To be done

5.1.2.5 Hard copy - Other [Hard copy - Other.]

5.1.2.6 Electronic - On-line bulletin or data [Electronic - On-line bulletin or data.] Data posted on Finance Website

Sometimes disseminated on the National Summary Data page on the UBOS website.

5.1.2.7 Electronic - Other [Electronic - Other.]

5.1.5 Dissemination on request (Encouraged) [Dissemination on request of unpublished but non-confidential statistics.] Unpublished data required for preparation of National Budgets can be disseminated on request

5.2 Metadata 5.2.1 Dissemination of documentation on concepts, scope, classifications, basis of recording, data sources, and statistical techniques (Required) [Dissemination of documentation on concepts, scope, classifications, basis of recording, data sources, and statistical techniques, including annotation of differences from internationally accepted standards, guidelines.] Documentation on concepts, scope, classifications, basis of recording, data sources, and statistical techniques is available, and differences from internationally accepted standards, guidelines, or good practices are annotated.

9. Plans 9.1 Recent 9.1.1 Plans for improvements - Recent improvements [Plans for improvements - Recent improvements.]

9.2 General 9.2.1 Plans for improvements - Short-term [Plans for improvements - Short-term.]

9.2.2 Plans for improvements - Medium-term [Plans for improvements - Medium-term.] Plan on monthly and quarterly hard copy dissemination of debt data

9.3 Financial 9.3.1 Plans for improvements - TA/financing needs - Short-term [Plans for improvements - TA/financing needs - Short-term.]

9.3.2 Plans for improvements - TA/financing needs - Medium-term [Plans for improvements - TA/financing needs - Medium-term.]

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