Cash and Debt Management: PowerPoint Presentation

Cash and Debt Management: PowerPoint Presentation

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20 Years of Organizational Transformations. Xavier Rame. Fiscal Affairs Department. 6th Annual Seminar. International Association of Treasury Services. “State Accounting Reform and Cash Management”. ID: 605463

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Presentations text content in Cash and Debt Management:

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Cash and Debt Management: 20 Years of Organizational TransformationsXavier RameFiscal Affairs Department

6th Annual SeminarInternational Association of Treasury Services“State Accounting Reform and Cash Management”Hammamet, November 16, 2012

Slide2

Acknowledgement

This presentation is based on a chapter authored by John Gardner and Brian Olden in the forthcoming IMF book “Public Financial Management and its Emerging Architecture”, edited by Marco Cangiano, Teresa Curristine and Michel Lazare, to be published on April 2013.

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Slide3

20 years of changes in governments’ financial assets and liabilities management

What has changed ?

Availability of information to improve government cash planning

Government banking arrangements and payment systems

Development of active cash management

Increased borrowing

levels and exposure to financial markets

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Slide4

Sum of All Countries Public Domestic Debt Securities

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Source: Bank for International Settlements

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Cash and debt management: 2 separate functions…

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… Facing specific challenges …

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… which have to coordinate their actions

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Slide8

Reasons for a Strengthened Coordination of Cash Management and Debt Management

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Slide9

A trend toward the integration of the 2 functions in Debt Management Offices (DMOs)

Fragmentation of debt portfolios

Creation of DMO

DMO in charge of cash management

DMO in charge of government financial portfolio

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Slide10

Lessons Learned from Country Experiences: an Evolution to Address a More Complex Environment

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Slide11

Central Government Debt Management Institutional Arrangements

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Slide12

Lessons learned regarding institutional models

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Slide13

Lessons learned regarding institutional models

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Examples of Central Government Debt Management Institutional Arrangements

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Separate and independent DMO

Separate DMO as agency of

Mof

DMO within Treasury or

Mof

DMO within CB

Sweden

Ireland

Germany

Hungary

Portugal

New

Zealand

Australia

Belgium

Nigeria

UK

Netherlands

US

China

Japan

Canada (shared with

BoC

)

Chile

France

Russia

Spain

Italy

Mexico

Brazil

Turkey

Korea

Thailand

Indonesia

Colombia

Argentina

Denmark

India

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Challenges for cash and debt management in developing countries and emerging markets

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Slide16

Please visit the Public Financial Management bloghttp://blog-pfm.imf.org

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