January 20, 2020
 
 
 
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Institutional arrangements

Experience across many countries indicates that there is no a priori superior institutional structure for debt management and strategy formulation and execution. In some countries, it has been possible to centralise all debt management and strategy functions in one agency, but most countries spread them among different agencies (for example, external debt data management by the Ministry of Finance, domestic debt management by the Central Bank or external resource mobilisation by the Planning Ministry).

Whatever the division of labour, an efficient institutional structure should have clear institutional and departmental responsibilities that are defined by law, comprehensive and up to date in covering all executive, management and technical functions, minimise duplication among agencies, and are supported by clear implementing regulations. In addition, it is necessary to have a more detailed Procedures Manual setting out the roles and functions of all the key institutional agents involved in the debt management process.

In collaboration with regional partners, DFI has complied information on best practices regionally and on some country experience. Information and discussion of institutional arrangements are also available from IMF, Commonwealth Secretariat and UNITAR.

 

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