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The DMFAS Programme Progress Report 1998/1999

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The DMFAS Programme Progress Report 1998/1999 UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT The DMFAS Programme Progress Report 1998/1999 UNCTAD/GDS/DMFAS/MISC.17 CONTENTS 1. INTRODUCTION 3 2. FIELD ACTIVITIES 4 2.1 AFRICA 4 2.1.1 Regional activities 4 2.1.2 Country projects 4 2.2 ASIA (FAR EAST) 7 2.2.1 Regional activities 7 2.2.2 Country projects 7 2.3 THE MIDDLE EAST 9 2.3.1 Regional activities 9 2.3.2 Country projects 9 2.4 EASTERN EUROPE AND THE CIS 10 2.4.1 Regional activities 10 2.4.2 Country projects 10 2.5 LATIN AMERICA AND THE CARIBBEAN 12 2.5.1 Regional activities 12 2.5.2 Country projects 12 3. SYSTEM DEVELOPMENT AND MAINTENANCE 16 4. DSM+ DEVELOPMENT, TRAINING AND DISSEMINATION 17 5. DOCUMENTATION AND PUBLICATIONS 17 6. DMFAS INSTALLATIONS 18 7. REGIONAL TRAINING AND SUPPORT 20 8. INTER-REGIONAL CONFERENCE 21 9. WORLD ASSOCIATION OF DEBT MANAGEMENT OFFICES 21 10. OTHER ACTIVITIES 22 11. FUNDING AND DONOR RELATIONS 22 Annex 1: Status of country projects and implementation of DMFAS 5.1 at 31 December 1999 24 Annex 2: DMFAS yearly expenditures 25 Annex 3: Summary account of project expenditures (UNDP country projects) 26 Annex 4: Summary account of project expenditures (UNDP regional/inter-regional projects) 27 Annex 5: Summary account of project expenditures (other sources) 28 Annex 6: Summary account of bilateral support: Trust funds 29 Annex 7: Summary account of the country projects supported by the Swiss Government 30 1. INTRODUCTION Since the release of DMFAS 5.0 in 1994, the Debt Management and Financial Analysis System (DMFAS) programme has experienced steady growth in demand for the system and related services. By the end of 1999, more than 50 countries were collaborating with the programme and it is expected that in the next few years this number will increase to more than 60 countries. Over the last five years, the client base has thus more than doubled. The importance of the programme is further highlighted by the fact that the long-term debt outstanding and disbursed (LDOD) being managed by the DMFAS at the end of 1998 amounted to more than US$ 470 billion and represented around 30 per cent of the total LDOD of all developing countries. This has significantly changed the central operation of the DMFAS programme. DMFAS activities in 1998 and 1999 were largely influenced by the programming and release of versions 5.1 and 5.2. The changes made to the DMFAS were strongly influenced by the Heavily Indebted Poor Countries (HIPC) initiative of the World Bank and the International Monetary Fund (IMF). The software has been adapted to allow for the calculation of the present value of the debt portfolio and includes different calculation methods for projections based on the outstanding which are used by World Bank and IMF. It was also reprogrammed on a 32-bit platform to take into account recent developments in computer technology and contains a much improved reporting tool. For its part, UNCTAD reached an agreement with the World Bank and the Commonwealth Secretariat on the further development and dissemination of the World Bank’s Debt Sustainability Model (DSM+). This specialized software is designed to simulate scenarios on filling the balance-of-payments financial gap using different sources of new funds or debt reorganisation. It is an essential tool needed by the user countries to prepare their debt sustainability analysis. UNCTAD will be responsible for its dissemination, and for training and user support. Version 5.2, which was programmed during 1999 for release in 2000, includes an interface with the DSM+. Another major activity in the last two years has been the development, in collaboration with the United Nations Development Programme (UNDP) and the United Nations Institute for Training and Research (UNITAR), of a training curriculum for capacity building in debt management in Eastern Europe and the Commonwealth of Independent States (CIS). Four seminars took place in 1998 and 1999 and a follow-up regional project is foreseen for 2000 and beyond. This training curriculum will be adapted to other regions of the world. More generally, the DMFAS programme is seeking to strengthen its collaboration with regional institutions in order to provide more and better regional training and support in the area of debt management. Since its first Inter-regional Conference on Debt Management in December 1997, the DMFAS programme has made further progress with the establishment of the World Association of Debt Management Offices (WADMO). Also, the biennial DMFAS inter-regional conference has become a regular activity of the programme, with the next conference to be held in Geneva in the year 2000. All the above activities were carried out against a background of unsecured funding. Before making new funding commitments, the DMFAS bilateral donors, which have supported the programme financially over the last five years, adopted a cautious attitude and expect UNCTAD to take measures to improve the financial sustainability of the programme. The present Progress Report takes stock of the activities undertaken by the DMFAS programme over the last two years and thereby underlines the major directions of the work programme for the year 2000 and beyond. DMFAS Progress Report 1998/1999 Page 3 2. FIELD ACTIVITIES 2.1 AFRICA The DMFAS programme continues to be very active in Africa. The DMFAS software is now installed in 18 African countries. During 1999, the programme signed three projects in the region: with Angola, which is a new DMFAS user, as well as with Zambia and Zimbabwe for the installation of DMFAS 5.1.2. All these projects were government-financed. 2.1.1 Regional activities UNCTAD seeks to decentralise its DMFAS-related activities in Africa to the extent possible and useful. Most of UNCTAD’s regional capacity-building efforts in debt management in Africa up to now have been concentrated on English-speaking countries. Both the Macroeconomic and Financial Management Institute (MEFMI), located in Harare (Zimbabwe), and the West African Institute for Financial and Economic Management (WAIFEM), located in Lagos (Nigeria), represent English-speaking groups of countries − MEFMI in Eastern and Southern Africa and WAIFEM in West Africa. Support for these regional institutions has continued during 1999. UNCTAD intends to increase its support to the French-speaking countries in West Africa and negotiations to that end are ongoing. 2.1.1.1 MEFMI In Eastern and Southern Africa − where the DMFAS programme operates in Angola, Uganda, Zambia and Zimbabwe − all activities are undertaken in close cooperation with MEFMI, with which UNCTAD has a cooperation agreement. Under this agreement, UNCTAD contributes on a regular basis to MEFMI’s training activities. During 1999, this included a regional training course in the use of the World Bank’s Debt Strategy Model in Harare. In addition, MEFMI participated in all DMFAS missions to the region. 2.1.1.2 The West African Institute for Financial and Economic Management The DMFAS programme has no active projects in this region 1. Support to the countries of this region will therefore continue through joint activities with WAIFEM. These activities include participation in WAIFEM’s training activities and provision of training materials on debt management. The DMFAS programme sent a facilitator in August 1999 to present several topics during WAIFEM’s course on debt management. This course was attended by approximately 30 officials from member countries, namely the Gambia, Ghana, Liberia, Nigeria and Sierra Leone, who are working with or in national debt offices. Some of the topics presented included the role and computerisation of a debt office and the use of performance indicators in debt management. 2.1.1.3 Francophone West Africa UNCTAD has opened negotiations with a view to participating in the debt management project of the Banque des Etats d'Afrique Centrale (BEAC), the objective of which is to train debt managers at various levels. Cooperation with the BEAC would mainly involve DMFAS staff participating as resource persons at events in the region. 2.1.2 Country projects 2.1.2.1 Angola Angola signed a DMFAS project document with UNCTAD in October 1999. In February 2000, an exploratory mission visited Angola to prepare the project activities and draw up a work plan for installation of the DMFAS and training activities. 1 It had a project with Liberia, but owing to the political situation in that country in recent years the activities had to be suspended. Page 4 DMFAS Progress Report 1998/1999 2.1.2.2 Burkina Faso A project document was signed in November 1997 with the Ministry of Economy and Finance. The project is partially financed by a grant from the Swiss Government. The installation mission was undertaken in the National Debt Department in May–June 1998, and was followed by a training mission in the use of the DMFAS (June–July). In April 1999, the DMFAS programme received two officials from Burkina Faso trained in the use of DMFAS 5.1 and in the building of an interface between the DMFAS and their national budgetary software as well as a local financial software called "Circuit de la dépense". The DMFAS programme intends to further develop this type of cooperation because it has proved very effective in building capacity in participating countries. 2.1.2.3 Burundi The DMFAS has been installed in the Treasury Department of the Ministry of Finance since 1987. It is fully operational and is being actively used to produce management reports on disbursement and debt service projections, balance-of-payments projections and debt outstanding. The initial project, funded by UNDP, ended in 1991. Since then, UNCTAD has continued its support to Burundi through various regional activities.
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