different debt management entities report to a single debt management entity and how this single entity monitors the debt management entities’ activities.
13.2:3. Assessors should obtain evidence of approval of annual borrowing either by government or by legislature during the last fiscal year. Assessors should also evaluate the existence of and compliance with the listed requirements.
13.2:4. For this dimension debt-related transactions are transactions in the market (e.g., swaps) that seek to change the risk profile of the debt portfolio, and debt buybacks of illiquid debt securities
Dimension 13.2. Scoring
| Score | Minimum requirements for scores |
|---|---|
| A | Primary legislation grants authorization to borrow, issue new debt, and issue loan guarantees on behalf of the central government to a single responsible debt management entity. Documented policies and procedures provide guidance to borrow, issue new debt and undertake debt-related transactions, issue loan guarantees, and monitor debt management transactions by a single debt management entity. Annual borrowing must be approved by the government or legislature. |
| B | Primary legislation grants authorization to borrow, issue new debt, and issue loan guarantees on behalf of the central government to entities specifically included in the legislation. Documented policies and procedures provide guidance for undertaking borrowing and other debt-related transactions, and issuing loan guarantees to one or several entities. These transactions are reported to and monitored by a single responsible entity. Annual borrowing must be approved by the government or legislature |
| C | Primary legislation grants authorization to borrow, issue new debt, and issue loan guarantees on behalf of the central government to entities specifically included in the legislation. Documented policies and procedures provide guidance for undertaking borrowing and other debt-related transactions, and issuing loan guarantees to one or several entities. These transactions are reported to and monitored by a single responsible entity |
| D | Performance is less than required for a C score |
Dimension 13.2. Timing, coverage and data requirements
| Time period | Coverage | Data requirements/calculation | Data sources |
|---|---|---|---|
| Last completed fiscal year. | CG. |
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PEFA Handbook Volume 1: The PEFA Assessment Process – Planning, Managing and Using PEFA
