A Framework for Monitoring of and Reporting for External Project Loans in Developing Countries
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Disclaimer: This Technical Guidance Note should not be reported as representing the views of the IMF. The views expressed in this Note are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
Summary:
To produce timely and accurate debt reports at the central government level, it is essential to have a sound legal, administrative, and operational framework in place for debt data compilation, reconciliation, accounting, monitoring, and reporting. This note focuses on the arrangements for external project-based debt, which present distinctive challenges in debt reporting particularly in low-income and developing countries. The discussion complements existing literature and guidance on debt transparency by focusing on stages prior to the production of debt reports. The note also identifies the links between the management of project loans and other public financial management (PFM) processes, such as public investment management, budget preparation, fiscal and financial reporting. It shows that a comprehensive approach that considers these linkages can improve efficiency and transparency in fiscal and debt management. Although the focus is on the central government’s debt obligations, the ideas can be extended to cover government-guaranteed loans and public sector debt in general.
Series:
Technical Notes and Manuals No. 2024/003
Subject:
Debt service Expenditure External debt Financial institutions Government debt management Loans Project loans Public debt Public financial management (PFM) Revenue administration
Frequency:
occasional
English
Publication Date:
February 22, 2024
ISBN/ISSN:
9798400262227/2075-8669
Stock No:
TNMEA2024003
Format:
Paper
Pages:
47
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