MoF requests WB to assess Vietnam’s public debt

Vietnam’s public debt management will be under the World Bank’s assessment in accordance with the international standards at the request of the Ministry of Finance from late September till October 6.
Accordingly, the assessment instrument DeMPA (Debt Management Performance Assessment Tool-DEMPA) with 15 rating criteria that has been conducted in more than 60 countries world-wide will be employed.

WB will be in close collaboration with the several agencies under the Ministry of Finance, the State Bank of Vietnam, the Ministry of Justice, the State Audit of Vietnam and relevant offices concerning public and foreign debt management.

It is expected that the evaluation results including the efficiency of public debt management and the discovery of existing drawbacks will be available within 8-10 weeks.

Recommendations would then be put forward to the government for appropriate adjustments on WB’s technical assistance with a view to enhance public debt management.

What the agency is expected to concentrate on are specific related areas such as legal framework, structure of debt management agencies, evaluation of debt management and auditing, the collaboration of debt management and fiscal policies, monetary policies, overseas borrowing, cash flow management, risk management and the compliance with the international practice. – Source: Vietbiz24.com

Tags: Vietnam public debt

Posted by VBN on Oct 5 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry