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
DownloadNote - The PPT/PDF document "Cash and Debt Management:" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Presentations text content in Cash and Debt Management:
Slide1
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.
2
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
3
Slide4
Sum of All Countries Public Domestic Debt Securities
4
Source: Bank for International Settlements
Slide5
Cash and debt management: 2 separate functions…
5
Slide6
… Facing specific challenges …
6
Slide7
… which have to coordinate their actions
7
Slide8
Reasons for a Strengthened Coordination of Cash Management and Debt Management
8
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
9
Slide10
Lessons Learned from Country Experiences: an Evolution to Address a More Complex Environment
10
Slide11
Central Government Debt Management Institutional Arrangements
11
Slide12
Lessons learned regarding institutional models
12
Slide13
Lessons learned regarding institutional models
13
Slide14
Examples of Central Government Debt Management Institutional Arrangements
14
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
Slide15
Challenges for cash and debt management in developing countries and emerging markets
15
Slide16
Please visit the Public Financial Management bloghttp://blog-pfm.imf.org
Download this presentation
DownloadNote - The PPT/PDF document "Cash and Debt Management:" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Presentations text content in Cash and Debt Management:
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
Slide2Acknowledgement
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.
2
Slide320 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
3
Slide4Sum of All Countries Public Domestic Debt Securities
4
Source: Bank for International Settlements
Slide5Cash and debt management: 2 separate functions…
5
Slide6… Facing specific challenges …
6
Slide7… which have to coordinate their actions
7
Slide8Reasons for a Strengthened Coordination of Cash Management and Debt Management
8
Slide9A 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
9
Slide10Lessons Learned from Country Experiences: an Evolution to Address a More Complex Environment
10
Slide11Central Government Debt Management Institutional Arrangements
11
Slide12Lessons learned regarding institutional models
12
Slide13Lessons learned regarding institutional models
13
Slide14Examples of Central Government Debt Management Institutional Arrangements
14
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
Slide15Challenges for cash and debt management in developing countries and emerging markets
15
Slide16Please visit the Public Financial Management bloghttp://blog-pfm.imf.org
16
Slide17