1、U N I T E D N AT I O N S C O N F E R E N C E O N T R A D E A N D D E V E L O P M E N TDebt Management and Financial Analysis System ProgrammeANNUAL REPORT GE.23-14813(E)Debt Management and Financial Analysis System Programme Annual Report 2022 Corrigendum 1.Page 25,table 3,column 2,row 1 For the exi

2、sting text substitute 404 543 2.Page 25,table 3,column 2,row 11 For the existing text substitute 405 000 3.Page 25,table 3,column 2,row 19 For the existing text substitute-33 405 4.Page 25,table 3,column 2,row 20 For the existing text substitute 6 623 837 5.Page 28,table 5,column 2,row 4 For the exi

3、sting text substitute 1 058 964 6.Page 29,table 6,column 5,row 8 For the existing text substitute 7 734 7.Page 29,table 6,last paragraph For the existing text substitute Following the lifting of pandemic-related travel restrictions,in-person missions resumed in 2022,resulting in greater expenditures

4、 for country-specific trust funds compared with in 2021,amounting to$2,079,287 to deliver technical assistance in 24 institutions.Total expenditures under these trust funds were over 120 per cent higher than in 2021.Table 7 provides a breakdown of countries budget,expenditures and final balance avai

5、lable.United Nations UNCTAD/GDS/DMFAS/2023/1/Corr.1 United Nations Conference on Trade and Development Distr.:General 31 July 2023 English only UNCTAD/GDS/DMFAS/2023/1/Corr.1 2 8.Page 30,table 7,Djibouti For the existing text substitute Djibouti 143 065e 34 780 108 285 9.Page 30,table 7,Kyrgyzstan F

6、or the existing text substitute Kyrgyzstan-115 093-10.Page 30,table 7,Philippines For the existing text substitute Philippines(Central bank)321 232 114 214 207 018 11.Page 30,table 7,Total For the existing text substitute Total 4 464 449 2 079 287 2 385 162 ANNUAL REPORTDebt Management and Financial

7、 Analysis System Programme2022Geneva,2023iiDMFAS PROGRAMME ANNUAL REPORT 2022 2023,United NationsThis work is available through open access,by complying with the Creative Commons licence created for intergovernmental organizations,at http:/creativecommons.org/licenses/by/3.0/igo/.The designations em

8、ployed and the presentation of material on any map in this work do not imply the expression of any opinion whatsoever on the part of the United Nations concerning the legal status of any country,territory,city or area or of its authorities,or concerning the delimitation of its frontiers or boundarie

9、s.Mention of any firm or licensed process does not imply the endorsement of the United Nations.Photocopies and reproductions of excerpts are allowed with proper credits.This publication has not been formally edited.United Nations publication issued by the United Nations Conference on Trade and Devel

10、opmentUNCTAD/GDS/DMFAS/2023/1eISBN:978-92-1-002760-1eISSN:2959-5231iiiDMFAS PROGRAMME ANNUAL REPORT 2022NOTEThe Debt Management and Financial Analysis System(DMFAS)Programme is largely financed thanks to the generous support of bilateral donors.Currently,these are France,Germany,Ireland,the Kingdom

11、of the Netherlands,Switzerland and the European Union.The designations of country groups are intended solely for statistical or analytical purpose and do not necessarily express a judgment about the stage reached by a particular country or area in the development process.All references to dollars ar

12、e to United States dollars,unless otherwise specified.In tables:One dot(.)indicates that the data are not applicableA dash()indicates that the amount is nil or negligibleEuropean UnionivDMFAS PROGRAMME ANNUAL REPORT 2022LIST OF ACRONYMSADBAsian Development BankAGMAdvisory Group MeetingCOVID-19corona

13、virus diseaseDebt-DQADebt Data Quality AssessmentDeMPADebt Management Performance Assessment DMFASDebt Management and Financial Analysis SystemDMOdebt management officeDQAFData Quality Assessment FrameworkDRSDebt Reporting SystemDSAdebt sustainability analysisDSSIdebt service suspension initiativeES

14、CWAEconomic and Social Commission for Western AsiaGFSACGovernment Finance Statistics Advisory CommitteeGNIgross national incomeIFMISintegrated financial management information systemIMFInternational Monetary FundIPSASInternational Public Sector Accounting StandardsMEFMIMacroeconomic and Financial Ma

15、nagement Institute of Eastern and Southern AfricaMTDSmedium-term debt strategyPEFAPublic Expenditures and Financial Accountability FrameworkPFMpublic finance managementQEDSQuarterly External Debt StatisticsQPSDQuarterly Public Sector Debt statisticsSDGSustainable Development Goals UNCTADUnited Natio

16、ns Conference on Trade and DevelopmentUNDPUnited Nations Development ProgrammevDMFAS PROGRAMME ANNUAL REPORT 2022TABLE OF CONTENTSList of acronyms.ivExecutive summary.1Progress in implementing the strategic plan .71 Overview of strategic plan 20202024.7DMFAS user countries.82.Key results achieved in

17、 2022.8Results under objective 1.8Results under objective 2.103.DMFAS Programme response to the COVID-19 pandemic .114.Activities implemented in 2022 .124.1 Country project activities .124.2 Implementation of capacity-building activities in 2022.134.3 Systems management .154.4 Partner coordination.2

18、04.5.Programme management.234.6.Monitoring and evaluation .245.Funding and expenditures in 2022.255.1 Central trust fund of the DMFAS Programme.255.2 Central trust fund expenditures .285.3 Budget .295.4 Country-specific project trust funds.29Challenges and the way forward.32Annex 1.Extracts of curre

19、nt United Nations and international mandates relevant to the work of the DMFAS Programme.34Annex 2.DMFAS Programme results 20202024.38Annex 3.Breakdown of DMFAS client countries according to income group,2022.39Annex 4.DMFAS installations in countries,2022.40Annex 5.Scope of DMFAS use in countries i

20、n 2022.45Annex 6.Automatic links between DMFAS and other systems.48Annex 7.Helpdesk tickets by countries,2022.50Annex 8.Conclusions of the DMFAS Advisory Group,December 2022.51Annex 9.Contributions to the DMFAS central trust fund by donor,2013-2022.55Annex 10.Maintenance agreements and Contributions

21、.56viDMFAS PROGRAMME ANNUAL REPORT 2022LIST OF TABLETable 1.Regional distribution of DMFAS capacity building and other activities in 2022.14Table 2.Implementation of capacity building modules in 2022.14Table 3.Income of DMFAS central trust fund,2022(dollars).25Table 4.Income from cost-sharing and re

22、covery,2002-2022(Dollars).27Table 5.DMFAS Programme expenditures,2022(Dollars).28Table 6.DMFAS strategic plan budget,20212024(Thousands of dollars).29Table 7.Available country project trust funds and project expenditures,2022(Dollars).30LIST OF FIGURESFigure 1.Summary of achievements on Objective 1

23、in 2022.3Figure 2.Summary of achievements on Objective 2 in 2022.4Figure 3.Overview of the DMFAS strategic plan 20202024.7Figure 4.Geographical distribution of DMFAS user countries,2022.8Figure 5.Active users of DMFAS by income group,2022.12Figure 6.DMFAS Programme capacity-building approach.13Figur

24、e 8.DMFAS 7 functionalities.16Figure 9.Country project expenditures:Regional distribution as percentage of total expenditures,2022 .31Figure 10.Country project expenditures:income-level distribution as percentage of total expenditures,2022 .311DMFAS PROGRAMME ANNUAL REPORT 2022EXECUTIVE SUMMARYThis

25、annual report describes the activities,achievements and financial situation of the Debt Management and Financial Analysis System(DMFAS)Programme of the United Nations Conference on Trade and Development(UNCTAD)at the end of 2022.It is intended for the Programmes donors,development partners and benef

26、iciary countries,and for all those interested in debt and development issues.Over its 41 years of existence,the Programme has provided assistance to 116 institutions in 75 developing countries.In 2022,85 institutions from 60 economies were active DMFAS users,including one new,Equatorial Guinea,and t

27、wo returning users,Yemen and the State of Palestine.Nearly three quarters of DMFAS users had either low-income or lower middle-income countries and in 2022 over 70 per cent of DMFAS Programmes project expenditures were for these countries.In 2022,the overall outlook for external debt sustainability

28、in developing countries remained of serious concern for the international community,aggravated by the war in Ukraine,the coronavirus disease(COVID-19)pandemic,and climate change.The greater reliance on public borrowing to meet pandemic-related public spending demands was accompanied by rising levels

29、 of public debt,increasing debt repayment burdens and higher risk of debt distress.Similarly,there were major concerns about problems with debt data transparency in a number of countries.It is widely recognized that in such circumstances,the effective management of public resources and liabilities,i

30、ncluding public debt,has become even more necessary.Capacity to record,monitor and report effectively on public debt also remains crucial to mitigating risks to debt sustainability while countries need to borrow significantly to address the socioeconomic effects of the pandemic and global crises.Eff

31、ective debt management,including debt data transparency,is also critical in the implementation of emergency financing and debt moratorium measures adopted by the international community.Notwithstanding the increasing importance of effective debt management,many developing countries continued to lack

32、 the necessary capacity to manage debt effectively.Faced with increasingly complex debt portfolios,significant weaknesses in legal and institutional frameworks,staffing and skills as well as systems undermined the ability of countries to manage public debt.In this context,DMFAS strategic plan 202020

33、24 continued to be very relevant as part of an effective response to the grave concerns about the overall outlook for external debt sustainability in developing countries and the challenges associated with the COVID-19 crisis.Extended by the DMFAS Advisory Group in December 2022 for an additional ye

34、ar due to the pandemic,the plan focuses on strengthening debt data transparency and capacity development in recording,processing,monitoring,reporting and analyzing public debt,the downstream areas of debt management considered as the foundations for effective debt management.Its overall development

35、objective remained fully valid and relevant as it is to strengthen governments capacity to manage their debt effectively and sustainably in support of poverty reduction,development,transparency and good governance.For DMFAS user countries,the priority in 2022 continued to maintain capacity to ensure

36、 that comprehensive,accurate and timely information on public debt was available in support of policy decisions and risk management.Demand for Programme support remained very high,in particular with regard to capacity-building and requests to the Helpdesk.In response to countries needs,the Programme

37、 provided continuous support and guidance on ensuring the accuracy and completeness of public debt records and comprehensive and 2DMFAS PROGRAMME ANNUAL REPORT 2022timely reporting.The methods of delivery of activities changed in response to restrictions on travel and were continuously adapted to th

38、e changing situation.After two years of providing support remotely,the Programme resumed field activities and continued the delivery of online training and support including through the Helpdesk.The Programme was therefore able to provide countries debt management offices with continuous support to

39、help improve their capacity to address debt management challenges.It also synergized its efforts in this direction with those of other organizations providing technical assistance in debt management.In 2022,results under objective 1 demonstrated improvements under the majority of the performance ind

40、icators of the Programme(Figure 1).This includes progress in debt coverage,in particular for domestic debt.In relation to government and government-guaranteed external debt,93 per cent of user countries had complete records in DMFAS.As evidence of a continuing positive trend in domestic debt recordi

41、ng,79 per cent of DMFAS 6 user countries responsible for managing domestic debt reported having comprehensive records.The indicators related to transparency and reporting include 41 countries regularly publishing debt statistics bulletins.Additionally,in 2022,the share of countries reporting to the

42、World Bank Debtor Reporting System was stable1,and there was an increase in the number of countries reporting effectively to the Quarterly External Debt Statistics and Quarterly Public Sector Debt databases.Results also demonstrated the increasing importance of operational risk management,in particu

43、lar in relation to debt management procedures.Results under debt analysis showed a general increase since the start of the implementation of the current strategic plan in the number of countries conducting debt portfolio analysis,with 35 countries doing so in 2022.Despite a general increase since th

44、e start of the strategic plan,results also reflected the challenges faced by debt offices in sustainably conducting regular debt portfolio analyses and in the continued commitment to preparing medium-term debt strategies and debt sustainability analysis using DMFAS data.In relation to strengthened p

45、ublic finance management integration,the Programme continued to support the 23 institutions that already have interfaces between their national systems and DMFAS 6 in their efforts to upgrade information technology systems.In relation to enhanced debt management knowledge,in addition to DMFAS traini

46、ng and capacity-building activities,the Programme organized the thirteenth Debt Management Conference and the thirteenth DMFAS Advisory Group meeting in December with 431 participants from over 100 countries,institutional organizations,civil society and academia.The Programme continued to provide as

47、sistance in debt reporting and implementation of debt reorganization initiatives,such as the Group of 20 Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative,by supporting debt management offices in recording terms and conditions in the debt database.1 In accordance wit

48、h the confidentiality agreement with the World Bank,information on the quality of reporting is not disclosed in DMFAS Annual report.3DMFAS PROGRAMME ANNUAL REPORT 2022Under objective 2(see figure 2),progress on DMFAS 7,the major new version of the system,development of which had experienced delays i

49、n previous years,focused primarily on the completion of Release 1.Utilizing the already-built user interface(“front end”)and library of processing(“back end”)components,the development team focused on both finalizing the migration of essential functionalities from DMFAS 6 to the new platform and on

50、developing new features such as the managerial dashboard,enhanced reporting tools,strengthened analytical functions and the management of additional debt instruments(overdraft,currency and deposits,Special Drawing Rights allocation etc.).DMFAS 7 release 1 was demonstrated at the DMFAS Advisory Group

51、 in December 2022,with positive feedback,and will be beta tested in selected client offices in the first semester of 2023,with a view to commencing distribution to countries in the second half of the year.Additionally,an update of DMFAS 6,release 6.2,was distributed.Expected to be the last major rel

52、ease of DMFAS 6,this update contains new functionalities and enhancements including nominal value calculations,the Medium-Term Debt Strategy Interface,enhancements to the handling of the Debt Service Suspension Initiative and technical updates to strengthen security and performance.Figure 1.Summary

53、of achievements on Objective 1 in 2022OBJECTIVE 1Improve the capacity of debt management offices to record,process,monitor,report and analyse the countrys public debt in a sustainable mannerImproved debt coverageEnhanced transparency&reportingImproved operational risk managementFacilitated debt anal

54、ysisStrengthened PFM integrationEnhanced debt management knowledge85 institutions60 countriesBase:84 institutions57 countriesTarget:88 institutions61 countries93 per cent central government external debt captured in DMFASBase:95 per centTarget:97 per cent79 per cent domestic debt captured in DMFASBa

55、se:67 per centTarget:75 per centDMFAS 6/7 used by 90 per cent of countriesBase:82 per centTarget:85 per cent13 central banks monitor private external debt in DMFASBase:15Target:1894 per cent reported to DRSBase:74 per centTarget:92 per cent71 per cent of subscribers report to QEDSBase:78 per centTar

56、get:90 per cent72 per cent of subscribers report to QPDSBase:88 per centTarget:90 per cent41 countries produce adebt bulletinBase:40Target:4227 countries have a procedures manualBase:25Target:2825 countries have a disaster recovery planBase:21Target:2535 countries produce a debt portfolio review Bas

57、e:26Target:2847 countries perform MTDS using DMFAS dataBase:5140 countries conduct a DSA using DMFAS dataBase:51DMFAS integrated with budget,accounting,treasury in 23institutionsBase:25Target:28DMFAS integrated with 4 auction systems Base:4Target:6431 participants in 2021 debt conferenceBase:0Target

58、:300 per conferenceDMO staff from 50 countries trainedBase:0Target:35Source:UNCTAD4DMFAS PROGRAMME ANNUAL REPORT 2022Figure 2.Summary of achievements on Objective 2 in 2022OBJECTIVE 2Improve the capacity of the DMFAS Programme to deliver effective,efficient and sustainable responses to country needs

59、COVID-19ResponseDMFAS 7 developmentSupport toDMFAS 6Development and maintenance of capacity-buildingproductsCooperation with other providersImproved service deliveryFund raisingTechnical enhancementsDMFAS 6.1.4.1 and 6.1.4.2&6.2 releasedDMFAS 6 maintenanceTrac ticketsData collectionNon-traditional d

60、ebt instrumentsContingent liabilitiesSupport to new application servers Modernized interfaceUpdate of Frameworks-Implementation of new technology&Migration of modulesIntegration of enhanced Reporting toolsEnhanced Audit and SecurityPriority 1Priority 2Handling public-private partnershipsRecording su

61、ppliers creditsOn-lending proceduresInterpret agreementsData extractionTutorialsDebt-DQAUser certificationHandling Asian Development Bank loansInformation shared with partners Support to DMF activitiesSupport to partner eventsCooperation with the Commonwealth SecretariatCooperation with MEFMIUser su

62、pport request system available inside DMFAS software2 regional centersRemote delivery of supportRemote delivery of trainingAccelerated remote delivery of trainingRemote access guidelinesDSSI guidelinesIncreased delivery of remote supportDelivered webinars on DSSI and on debt statisticsDistribution o

63、f sources of funding:Donors UNCTAD Cost sharing mechanismNumber of donors increased:6 multilateral donors(baseline:5 Target:8)Source:UNCTAD5DMFAS PROGRAMME ANNUAL REPORT 2022Progress was also made in the development and maintenance of capacity building products,including the adaptation of existing m

64、aterial to remotely deliver capacity building support,and the distribution of the basic debt concepts module in French to make it accessible to a wider audience.In relation to self-learning material,guidelines and tutorials were updated.In relation to improved service delivery,the online portal for

65、technical documentation was updated and updated technical and installation guides,in particular for DMFAS 6.2,were released.The Helpdesk continued to be a key communications channel with users,to ensure continued access,including remotely,to DMFAS and received an increased number of demands.Active c

66、ooperation with partners continued in 2022 and included participation in partner events.In particular,the Programme actively worked with the Macroeconomic and Financial Management Institute of Eastern and Southern Africa,MEFMI,in the delivery of joint activities.In 2022,UNCTAD and MEFMI signed a par

67、tnership agreement to support the countries in the region.In addition,as implementing partner of the Debt Management Facility(DMF),the Programme participated in three DMF activities.As part of the results-based-management framework,an independent evaluator conducted a midterm review of the implement

68、ation of the strategic plan 20202024.Final conclusions and recommendations were presented at the DMFAS Advisory Group meeting in December 2022.The evaluator found a high level of satisfaction among users with DMFAS products and services and that DMFAS was highly effective and efficient in providing

69、services.He noted that DMFAS support was essential in the production of the debt information required to conduct upstream debt functions,such as debt sustainability analysis.The evaluator acknowledged the strategic contribution of the Programme to strengthening debt data transparency and public acco

70、untability in user countries and that the“Programme had a high,sustainable positive impact”.The Advisory Group in its conclusions2 commended the very positive results achieved to date by the Programme in the implementation of the strategic plan and endorsed the conclusions of the evaluator,reaffirmi

71、ng the high,sustainable positive impact of the Programme on debt management.The Group noted its appreciation of the highly effective support in responding to the needs of debt management offices resulting from the pandemic,and stressed the importance of providing continuous training and capacity-dev

72、elopment opportunities.The Group expressed its appreciation for the development of DMFAS 7,which would enable expanded data coverage and be more intuitive and respond to important reporting and analytical needs.The Group emphasized the essential role of the Programme in assisting countries in buildi

73、ng sustainable capacity for the effective management of public debt,and stressed the importance of having the funding necessary to respond effectively to critical and evolving needs in developing countries.In their statement to the Advisory Group,donors stressed the importance of high-quality debt d

74、ata and transparency and commended the work of the Programme as a key pillar of debt management efforts globally.They expressed their appreciation of the“significant,continuous effort and impressive impact”of DMFAS.In relation to financing,in 2022 the Programme was able to prioritize primary strateg

75、ic plan objectives,DMFAS 7 software development and response to country needs.In line with the budget,significant investments were made in the development of DMFAS 7,including with regard to outsourcing.The generous support of current donors to the Programme,namely France,Germany,Ireland,the Kingdom

76、 of the Netherlands,Switzerland and the European 2 Conclusions of the DMFAS Advisory Group are available in English,French and Spanish here:https:/unctad.org/dmfas/DMFASAdvisorygroup6DMFAS PROGRAMME ANNUAL REPORT 2022Union,enabled the Programme to make considerable progress in these priority areas.W

77、ith the lifting of pandemic-related travel restrictions,the Programme was able to conduct in-person missions resulting in cost-recovery and cost-sharing increasing significantly in 2022 from 2020 and 2021(approximately 70 per cent).The payment of maintenance contributions reached expected levels,dem

78、onstrating the continued commitment of client countries to supporting the Programme.In conclusion,developments in 2022 continued to highlight the relevance of the Programme in response to the difficulties faced by countries.Programme activities during the year addressed the pressing needs of countri

79、es facing the challenges of financial vulnerabilities and increased risks of debt distress,aggravated by the pandemic-related health and economic crises.DMFAS strategic plan 20202024 proved to be effective and adaptable in supporting the efforts of the countries to ensure the availability of compreh

80、ensive,accurate and timely information on public debt,thereby contributing to external debt sustainability and debt data transparency.7DMFAS PROGRAMME ANNUAL REPORT 2022PROGRESS IN IMPLEMENTING THE STRATEGIC PLAN 1 Overview of strategic plan 20202024Approved by the DMFAS Advisory Group in November 2

81、019,the current strategic plan for the DMFAS Programme started in January 2020 and has been extended for one additional year to December 2024.The plan is forward-looking plan,established for the Programme to continue to deliver high-quality,relevant assistance to developing countries in response to

82、debt management needs.The plan is in line with the United Nations and international mandates relevant to the work of the Programme(annex 1).The overall purpose of the strategic plan is to contribute to improvements in debt data transparency by helping developing countries strengthen capacity for deb

83、t data recording,reporting and monitoring.The resulting improvements in debt data will contribute to improved debt management,risk management and debt sustainability analysis,and address concerns raised by the international community about the overall outlook for external debt sustainability and rel

84、ated problems with debt data transparency.The development objective of the strategic plan is to strengthen Government capacity to manage debt effectively and sustainably,in support of poverty reduction,development,transparency and good governance.In line with the development objective and the compar

85、ative advantages of the Programme,the strategic plan has two main objectives.The first is to improve the technical and functional capacity of debt management offices to record,process,monitor,report and analyse countrys public debt in a sustainable manner.The second objective is to improve the capac

86、ity of the Programme to deliver effective,efficient and sustainable responses to country needs(figure 3).As under previous plans,strategic plan 20202024 includes performance indicators that allow for the monitoring of progress throughout implementation(see annex 2).Figure 3.Overview of the DMFAS str

87、ategic plan 20202024OVERALL DEVELOPMENT OBJECTIVE:Strengthen Governments capacity to manage their debt effectively and sustainably,in support of poverty reduction,development,transparency and good governanceObjective 1:Improve the capacity of DMOs to record,process,monitor,report and analyse the cou

88、ntrys public debt in a sustainable mannerObjective 2:Improve the capacity of the DMFAS Programme to deliver effective,efficient and sustainable responses to country needsCapacity-building on debt data validation and Debt-DQA debt statistics,debt portfolio analysis,procedures manualDMFAS 7 developmen

89、tAdvisory services for IFMIS integrationSupport to DMFAS 6Certification of skills in DMFAS usageDevelopment and maintenance of capacity-development productsKnowledge management thorough conferences,Newsletters,WebsiteCooperation with other providersE-learning and self-learningEstablish regional cent

90、resHelpdesk response to user requestsFundraisingAreas of focus:-Strengthening debt data transparency-Capacity development in downstream debt management-General governmentSource:UNCTAD 8DMFAS PROGRAMME ANNUAL REPORT 2022DMFAS user countriesSince its inception in 1981,the Programme has provided techni

91、cal assistance to 116 institutions in 75 countries,including one new country in 2022,Equatorial Guinea,and two returning countries,Yemen and the State of Palestine.The high number of DMFAS clients,with a fidelity rate of 80 per cent since the establishment of the Programme,shows the continued releva

92、nce of the system and related capacity-building services to developing countries.In 2022,the DMFAS community was strong with 60 countries(figure 4),one-third of which were in Sub-Saharan Africa;one fifth in Latin America and the Caribbean;and the remainder in Asian,Europe,Middle East and North Afric

93、a.Figure 4.Geographical distribution of DMFAS user countries,2022Source:UNCTAD2.Key results achieved in 2022Information on Programme performance in 2022 is provided in this section.Results under objective 1The indicators under Objective 1 show progress in debt recording.Results include the following

94、:Government information systems established for effectively managing complete,up-to-date and reliable debt databases.At end 2022,60 countries,including one new,Equatorial Guinea and two returning countries,Yemen and the State of Palestine,comprising 85 institutions,were actively using DMFAS.Europe a

95、ndCentral Asia9 Middle Eastand North Africa10 Sub-SaharanAfrica21South andEast Asia8 Latin Americaand the Caribbean12 9DMFAS PROGRAMME ANNUAL REPORT 202293%of external central government debt recorded in DMFAS 93 per cent of countries had developed comprehensive,reliable debt databases covering cent

96、ral government and government-guaranteed external debt,which is stable compared with in 2021.79 per cent of DMFAS 6 user-countries with debt management offices responsible for monitoring domestic debt,were using DMFAS to manage their entire domestic debt portfolio.This shows the continued efforts of

97、 DMFAS countries to improve external and domestic debt records,such as in Egypt and Azerbaijan.13 central banks were monitoring private external debt using DMFAS.In relation to enhanced transparency and reporting,in 2022,there was a return to more regular debt reporting,although some countries still

98、 faced challenges,as follow:94 per cent of low-income or middle-income countries reported to the World Bank Debtor Reporting System.3 68 per cent of user countries subscribed to the IMF-World Bank Quarterly External Debt Statistics database(QEDS),71 per cent of which provided data for the third quar

99、ter of 2022 on a timely basis.Four countries started to report in 2022,and four countries have not yet reported on the most recent quarter.72 per cent of user institutions that subscribed to report to the IMF-World Bank Quarterly Public Sector Debt database(QPSD)reported on time for the third quarte

100、r of 2022.Two new countries have started to report in 2022,and two have not yet reported on the most recent quarter.41 countries produced debt statistics bulletins.Countries that produced a debt bulletin for the first time or resumed publishing included Angola and the Congo.Under the strategic plan,

101、this indicator has been strengthened by adding the publication of the bulletin as a success criterion.In relation to operational risk management,results include the following:27 countries have an up-to-date procedures manual for back-office operations.25 DMFAS user countries have a disaster recovery

102、 plan(DRP)for the DMFAS software.In relation to facilitated debt analysis,results are stable in basic analysis,medium-term debt strategy and debt sustainability analysis targets and include the following:35 countries prepared debt portfolio reviews,including one new country(Angola).DMFAS is the main

103、 source of debt data for preparing a medium-term debt strategy in 47 countries and for debt sustainability analysis in 40 countries.In relation to integration with public finance management,23 institutions in 18 countries had linked the DMFAS database with other financial management systems,19 of wh

104、ich with treasury systems and 4 with auction systems.In relation to enhanced debt management knowledge,nearly three quarters of activities were delivered remotely.In 2022,the Programme trained 609 officers from 28 countries,48 per cent of whom were women.In addition,431 experts(332 in-person and 99

105、online),of which 44 per cent of women,from 102 countries,international organizations,academic institutions and civil society participated in the thirteenth UNCTAD Debt Management Conference.3 In accordance with the confidentiality agreement with the World Bank,information on the quality of reporting

106、 is not disclosed in the DMFAS Annual report.79%of domestic debt recorded in DMFASProceduresmanuals in 27countriesDRPs in 25countries41 countries produced debt statistics bulletins35 countries produce regularly debt portfolio reviews48%of trained officials are women23 interfaces10DMFAS PROGRAMME ANN

107、UAL REPORT 2022Results under objective 2Results under objective 2 progress made in 2022 were as follows:Major new DMFAS version developed:DMFAS 7 migration of the essential functionalities from DMFAS 6 to the new platform and development of new features such as the managerial dashboard,enhanced repo

108、rting tools,strengthened analytical functions and management of additional debt instruments.Implementation of redesigned interface across all developed modules and definition of reinforced security and auditing features.Completion of work on the User Interface Library(”front end”),providing principa

109、l user interface components,and of the”back end”of reusable business process components,on the dashboard,on the report module,and the redesigned debt securities module.DMFAS 6 enhanced.At end 2022,DMFAS 6 was installed in 67 institutions in 54 countries,representing 79 per cent of DMFAS user institu

110、tions and 90 per cent of DMFAS user countries,including five new installations,in the ministries of finance of Chad,Guinea,Tajikistan and the State of Palestine and in the Central Bank of Yemen.DMFAS 6.2 was distributed in August 2022.This release contains new functionalities and enhancements includ

111、ing nominal value calculations,the Medium-Term Debt Strategy Interface,enhancements to the handling of the Debt Service Suspension Initiative and technical updates that strengthen security and performance.It is expected to be the last major release of DMFAS 6.In relation to the development and maint

112、enance of capacity building products,the Programme continued to update and localize learning products aimed at responding to the user needs for personalized training.In 2022,the Programme published all basic debt concept fact sheets in English and French and updated several guidelines and tutorials,

113、including on the recording of the Debt Service Suspension Initiative in DMFAS.In relation to cooperation with other providers the Programme participated in four partner events.UNCTAD signed a memorandum of understanding with the Macroeconomic and Financial Management Institute of Eastern and Souther

114、n Africa(MEFMI)and jointly organized a remote regional DMFAS training workshop.It also participated in the first event of a joint project with the Economic and Social Commission for Western Asia(ESCWA)and in the annual Debt Management Facility Implementing Partners Council meeting,co-organized a reg

115、ional training for French-speaking African countries on Debt Management and Performance Assessment(DeMPA)and participated in two DeMPA missions in the Democratic Republic of the Congo and Pakistan.Cooperation with the World Bank also included assisting and encouraging countries to report to internat

116、ional databases,including the DRS and QEDS/QPSD.Finally,the Programme participated in the regional training for West African Institute for Financial and Economic Management and MEFMI countries organized by the IMF.In relation to improved service delivery,the Programme implemented support through a m

117、ix of online and in-person activities.The Programme provided effective support to user countries through its Helpdesk,which responded to 312 requests.It delivered country-specific technical assistance through 62 capacity building workshops and other support activities in 28 countriesand signed four

118、new projects with Equatorial Guinea,Mauritania,Yemen and the State of Palestine.MFAS4 partnerevents11DMFAS PROGRAMME ANNUAL REPORT 2022In relation to fundraising,the Programme has worked with current donors on new multi-year commitments and reached out to new potential donors.In addition,the Program

119、me prepared new material for fundraising purposes in line with its fundraising strategy,including a promotional video,in cooperation with the Office of the Secretary General of UNCTAD.In relation to overall financing,the Programme is in line with its scenario 2 budget in terms of total income and ex

120、penditures(see table 6).With the lifting of pandemic-related travel restrictions in 2022 the Programme conducted in-person training missions,along with some online activities.In 2022,this resulted in a significant increase in staff time recovery(approximately 70 per cent)compared with 2020 and 2021.

121、It also allowed the Programme to continue investments in DMFAS 7 software development while continuing to prioritize primary objectives under the strategic plan and fulfilling the needs of beneficiary countries.In 2022,Programme donors were France,Germany,Ireland,the Kingdom of the Netherlands,Switz

122、erland and the European Union.3.DMFAS Programme response to the COVID-19 pandemic The pandemic and related restrictions impacted implementation of the strategic plan.From March 2020 to September 2021,due to pandemic travel restrictions,the Programme adapted support to the changing requirements faced

123、 by countries due to the challenges of the COVID-19 crisis.It monitored the operational status of debt management offices in user countries and their needs to align operations accordingly,including the following:Increased capacity building support in debt reporting as preparation for debt reorganiza

124、tion and debt relief negotiations,including through webinars on debt statistics Increased support in recording,reporting and monitoring pandemic-related debt reorganization initiatives using DMFAS Continued support for remote access to DMFAS Continued delivery of capacity-building activities even wh

125、en traditional face-to-face training was not possible.Starting in September 2021,in-person missions could be organized under strict conditionsDuring this period,DMFAS activities included the following:Helpdesk and advisory services Online and in-person delivery of training,seminars and support Suppo

126、rt for debt reorganization related to the pandemic Support for remote working Development of DMFAS 6 and DMFAS 7 Synergies with other technical assistance providersIn September 2021,field activities resumed and in 2022,76 per cent of activities were conducted in the field and 24 per cent remotely.12

127、DMFAS PROGRAMME ANNUAL REPORT 20224.Activities implemented in 2022 Activities implemented by the Programme in 2022 are described in this section along with the status of the DMFAS capacity building activities at the country level.4.1 Country project activities Discussions with countries for DMFAS Pr

128、ogrammes products and services continued during the pandemic,and the Programme signed new project agreements with the Ministries of Finance of Equatorial Guinea,Mauritania,Yemen and the State of Palestine.Changing nature of country needs for services in different areas of debt management.DMFAS users

129、 range from low-income,structurally weak economies to more advanced middle-income developing economies.This variety in client type further accentuates the diversity and scope of the technical assistance provided by the Programme.The majority of DMFAS clients are in low-income and lower-middle-income

130、 categories(see figure 5 and annex 3)Of DMFAS user countries,20 benefited from the Debt Suspension Initiative of the Group of 20.At present,all countries that applied to the Common Framework for Debt Treatment beyond the DSSI are DMFAS user countries,namely Chad,Ethiopia and Zambia.Figure 5.Active u

131、sers of DMFAS by income group,2022Low-income countries 27 per centHight-income countries 3 per centUnclassifed2 per centUpper-middle-incomecountries 25 per centLower-middle-income countries 43 per cent*The Bolivarian Republic of Venezuela was temporarily unclassified by the World Bank in July 2021 a

132、nd is pending release of revised national accounts statistics.See https:/www.un.org/development/desa/dpad/publication/world-economic-situation-and-prospects-2022/.Source:UNCTAD,based on data from the World Bank.DMFAS projects are tailored to the different situations in countries and by income status

133、.One major difficulty faced in many low-income countries is the capacity to recruit and retain qualified staff,requiring repeated technical training and capacity building in the fundamentals of debt management,including recording and reporting.There is usually more capacity in middle-income countrie

134、s for maintaining an updated and validated database and therefore greater interest in receiving technical assistance to improve capacity in producing debt statistics,in debt reporting and in basic debt analysis.13DMFAS PROGRAMME ANNUAL REPORT 20224.2 Implementation of capacity-building activities in

135、 2022DMFAS capacity building approachAs stated in the strategic plan,the Programme focuses on supporting countries in building sustainable capacity in the downstream areas of debt management.Therefore,it emphasizes the results of capacity building by focusing on delivering concrete outputs at the en

136、d of each workshop.The outputs of DMFAS capacity building modules build on each other and complement the activities of other international organizations at more advanced levels of debt analysis and debt strategy(see figure 6).Figure 6.DMFAS Programme capacity-building approachBasic analysisStatistic

137、s and reporting Database operations and recording AnalysisProcedures workshopDebt statistics workshopDebt portfolio analysisUpstream partnerssupportModulesData validation workshop Up-to-date proceduresDebt statistics bulletinDebt portfolio reviewOutputsData validation calendarUpstream partnerssuppor

138、tSource:UNCTADCapacity building activities in times of pandemicThe suspension of official travel in March 2020September 2021 due to the pandemic heavily impacted the in-person delivery of DMFAS capacity building activities.In 2022 the Programme resumed field activities,which represented 76 per cent

139、of all activities implemented during the year,and also continued to offer online activities to client countries.In 2022,the Programme organized or co-organized 62 capacity building events,including technical and functional on-the-job training and project management activities.In addition,the Program

140、me participated in four partner events including the Debt Management Facility Implementing Partners meeting,and joint activities with ESCWA and MEFMI.In 2022,609 officers from 28 countries were trained,48 per cent were women.With regard to the distribution of DMFAS capacity building activities by re

141、gion in 2022,16 were related to functional training,and 13 to DMFAS6 installations and technical training(table 1),including the remote installation of DMFAS 6 in the ministries of finance of Chad,Guinea,Tajikistan and the State of Palestine as well as in the Central Bank of Yemen;data validation ac

142、tivities organized in Azerbaijan,Chad,the Lao Peoples Democratic Republic and the Philippines(4);debt statistics workshops delivered in Azerbaijan,Egypt(initial and follow-up),Ethiopia(online),Mauritania and the Philippines(6);a debt portfolio analysis workshop(online)in the Philippines(1);and capac

143、ity-building workshops,with two on institutional frameworks and one on procedures in Equatorial Guinea and one on procedures in Zimbabwe(4).76 per cent 76 per cent of activities of activities conducted in the conducted in the field field Gender balance in Gender balance in DMFAS trainingDMFAS traini

144、ng14DMFAS PROGRAMME ANNUAL REPORT 2022Table 1.Regional distribution of DMFAS capacity building and other activities in 2022Source:UNCTADLevels of demand for capacity building continued to be high among both new user countries and countries in which project activities were delayed due to pandemic-rel

145、ated restrictions.Capacity-building activities were carried out by central staff and with the support of consultants when required(table 2).With the aim of encouraging SouthSouth cooperation and the sharing of best practices,the Programme regularly hires proficient DMFAS users from debt offices in d

146、eveloping countries as consultants to train new users in the debt offices of other developing countries.Table 2.Implementation of capacity building modules in 2022Capacity-building module200022Debt portfolio analysis 332321Debt statistics 3536*6Data validation 10695224Other cap

147、acity-building modules 2243244Total15*Includes webinars on debt statistics Source:UNCTAD Maintenance and translation of learning products The Programme continued its localization work to make the latest learning products accessible to a wider audience.In particular,following the localizat

148、ion of the full set of fact sheets on basic debt concepts in French in 2021,localization in Spanish is in progress.East Asia and the PacificEurope and Central AsiaLatin America and the CaribbeanMiddle East and North AfricaNorth AmericaSouth AsiaSub-Saharan AfricaTotalDMFAS functional training1113101

149、6Information and communications technology:installations/training/links225413Capacity building in data validation,debt statistics,debt portfolio analysis and other422715MTDS,DeMPA and reform plan1113Project management43411Partner coordination 1124Total215DMFAS PROGRAMME ANNUAL REPORT 2022

150、The learning goal of this self-learning material is for new back-office staff to be able to understand the basic and essential concepts of debt management related to the quality and accuracy of data they record in DMFAS,and to help avoid common mistakes.Debt management offices can use this material

151、to address staff turnover and rely on staff with the required knowledge of basic debt concepts.4.3 Systems management Debt management capacities and borrowing choices have changed over the years and DMFAS evolves constantly,both functionally and technically,to serve countries needs.Cutting-edge syst

152、em development is therefore one of the main objectives of the Programme,through updates to current versions or through the development of entirely new versions of the system.In 2022,in line with the strategic plan,systems management focused in particular on the following areas:development of DMFAS 7

153、;development of DMFAS 6 and release of DMFAS 6.2;support for integration;support and maintenance;and online and in-person implementation of DMFAS 6 and updates in countries.Overall DMFAS installations DMFAS 6 is installed in 67 institutions in 54 countries,including two new users(ministries of finan

154、ce in Guinea and Tajikistan),two reactivating users(Central Bank in Yemen and the Ministry of Finance in the State of Palestine)and one upgrade(Ministry of Finance in Chad).New projects were also signed with Equatorial Guinea and Mauritania(DMFAS installation is planned for 2023).DMFAS 5.3 is used i

155、n five countries(figure 7).In 23 user countries,the system is used by more than one institution and in-about half of these users,the system is shared by two institutions.Otherwise,each institution has its own database.Sharing between institutions is an option selected more and more often by DMFAS cl

156、ients,mainly because of the advanced security functions of DMFAS 6,which manages access rights for the institutions involved and facilitates coordination in public finance management(annex 4).The overview of the scope of debt recorded in the software in user countries,as well as reporting,analysis a

157、nd operational management practices can be found in annex 5.DMFAS versions installedV6V5.3Source:UNCTAD 90 per cent of 90 per cent of countries use countries use DMFAS 6DMFAS 616DMFAS PROGRAMME ANNUAL REPORT 2022DMFAS 6 users:Albania,Angola,Argentina,Armenia,Azerbaijan,Bangladesh,Bolivia(Plurination

158、al State of),Burkina Faso,Burundi,Cambodia,Chad,Congo,Democratic Republic of the Congo,Costa Rica,Cte dIvoire,Dominican Republic,Ecuador,Egypt,El Salvador,Eritrea,Ethiopia,Gabon,Georgia,Guatemala,Guinea,Guinea-Bissau,Honduras,Indonesia,Iran(Islamic Republic of),Iraq,Jordan,Lao Peoples Democratic Rep

159、ublic,Lebanon,Madagascar,Mauritania,Mongolia,Nicaragua,Pakistan,Panama,Paraguay,Philippines,Republic of Moldova,Rwanda,Sudan,Tajikistan,Togo,Uganda,Uzbekistan,Venezuela(Bolivarian Republic of),Yemen,Zambia,Zimbabwe,and the State of Palestine DMFAS 5.3 users:Algeria,Djibouti,Romania,Syrian Arab Repub

160、lic and Viet Nam.Development of DMFAS 7In 2022,development of the major new version of the system,DMFAS 7,continued in line with the priorities of the strategic plan 20202024.DMFAS 7 will respond directly to the requirement to improve debt data transparency by expanding debt data coverage,enhancing

161、reporting functions and implementing necessary major technical updates.It will enable the comprehensive recording,reporting,monitoring,management and analysis of the full range of public sector debt and will also facilitate the export of data for the purpose of medium-term debt strategy formulation,

162、risk analysis and debt sustainability analysis.DMFAS 7 will be released in two major blocks.The first will include all DMFAS 6 functionalities,enhancements to reporting and to existing modules(loans,reference files,security and audit,redesigned debt securities module,and customized calculations),new

163、 modules for new debt instruments,debt portfolio review,link with the Debt Sustainability Framework and interfacing with other systems(figure 8).Figure 8.DMFAS 7 functionalitiesSource:UNCTADFunctional Functional Block 2Block 2-Contingent liability-Front-Office-Borrowing plan-Workflow-Financial deriv

164、atives-Compliance with IPSAS(accrual accounting)Technical-User interface standards-Updated frameworks and latest technology-Cloud technology-Interfacing and integration-Mobile accessFunctional Block 1-DMFAS 6+-Enhanced reporting and dashboard-Redesigned debt securities module-Non-traditional debt in

165、struments-Expanded analysis-links to DSF and DPA reports-Improved security and audit-Customized calculations and enhancements on existing instruments717DMFAS PROGRAMME ANNUAL REPORT 2022In 2022,development focused primarily on release 1.Communications and coordination between the development teams(i

166、nternal team based mainly in Switzerland and Togo and external software development company based in India)was facilitated by a portfolio of state-of-the-art collaboration software tools.Utilizing the user interface(“front end”)and library of processing”back end”components built earlier,the developi

167、ng new features such as the managerial dashboard,enhanced reporting tools,strengthened analytical functions and the management of additional debt instruments(e.g.overdraft,currency and deposits,special drawing rights allocation).The redesigned user interface,greatly enhancing usability and navigatio

168、n,was implemented across all developed modules.Reinforced security and auditing features in line with current best practices and standards were defined for the new system.Work advanced on defining the technical and business requirements for new features for handling borrowing plans and contingent li

169、abilities which will be part of release 2.In preparation for implementation,the framework required for the installation of the new system in user countries was developed,which will enable a highly automated,effective and efficient distribution process.DMFAS 7 release 1 was demonstrated to the DMFAS

170、Advisory Group in December 2022 and received positive feedback;it will be beta tested in selected client offices in 2023,in view to commencing distribution to countries in the second half of the year.DMFAS 6 developments in 2022DMFAS 6 is available in the following four official languages of the Uni

171、ted Nations:English,French Spanish and Russian.A new update of DMFAS 6,release 6.2,was distributed in August 2022.This is expected to be the last major release of DMFAS 6 and contains new functionalities as described in this section.Nominal value calculations DMFAS 6.2 includes the calculation of no

172、minal value for four types of debt securities(money market instrument-discount,money market instrument-interest bearing,bond-zero coupon,bond-fixed rates).The pricing tab calculates the price and yield as well as the price and the yield to maturity)of the instrument,in addition to nominal value usin

173、g a default periodicity,which can be changed by users.A standard report on nominal value calculation can be generated from the tools menu of the module.Reports can be produced for a set of instruments with the nominal value for a defined period and the corresponding accrued interest.18DMFAS PROGRAMM

174、E ANNUAL REPORT 2022Medium-Term Debt Strategy(MTDS)interfaceThis new module in DMFAS 6.2 facilitates the preparation of debt data required as an input in the World Bank MTDS analytical tool.The final output is a spreadsheet to be imported into the MTDS tool,containing the stylized debt instruments n

175、eeded to define different borrowing strategies,including the following aggregates,calculated until the last maturity of the debt portfolio:Projected principal payments based on outstanding;Projected interest payments based on outstanding;Actual and projected debt outstanding.Enhancements in administ

176、ration module:Debt Service Suspension Initiative terms and reference ratesHandling of the Debt Service Suspension Initiative in the system is facilitated by the addition of a new code for“DSSI TERMS”under the“Reorganization Terms”field in Tranches to classify loans treated under a DSSI agreement.New

177、 reference rates(Secured Overnight Financing Rate(SOFR);Euro Short-Term Rate(STR),Sterling Overnight Index Average(SONIA);Tokyo Overnight Average Rate(TONAR/TONA),Swiss Reference Rates(SARON);Singapore Overnight Rate Average(SORA)are available in the interest tab under tranches to replace the London

178、 Inter-Bank Offered.Instructions on how to add a new reference rate for an existing tranche are annexed to the release note.Technical enhancementsDMFAS 6.2 also contains an update on the Applications architecture and support tools.With the use of Open Java version 11(OpenJDK 11)and Apache Tomcat 9,s

179、ecurity and performance concerns raised by institutions with regard to previous DMFAS 6 releases were resolved.Additionally,other internal security enhancements such as password encryption,integration of secured socket layer configuration,among others,have been implemented.The release contains impro

180、vements to the debt service module,enhancements to export of reports in spreadsheet format and to the data export module.The online help has been updated in the three languages to integrate the new functionalities.Finally,the release integrates some corrections.Links with other systemsThe DMFAS appl

181、ication has in-built web services to support and facilitate integration with other applications,and the Programme provides support to countries wishing to link DMFAS with other systems,including integrated financial management systems.In 2022,23 DMFAS installations in 18 countries were linked with o

182、ther financial management systems,including 19 with treasury systems and 4 with auction systems(see annex 6).The Helpdesk continued to support countries in maintaining the active interfaces and integrated financial management system activities are included in most of ongoing projects,including the n

183、ew project with the State of Palestine.SOFRSTRSONIATONA/TONARSARONSORA19DMFAS PROGRAMME ANNUAL REPORT 2022Improved service deliveryIn 2022,Helpdesk support remained a key communications channel with users.Support was provided on a wide range of functional and technical issues through the Trac system

184、,email,remote access and UNCTAD file transfer protocol server.In 2022,the DMFAS Helpdesk received a total of 472 tickets on DMFAS 6,of which 312 were satisfactorily closed,and the remainder(160)are being processed(see annex 7).During the pandemic the use of videoconferencing and remote access servic

185、es to provide support became a standard practice.In addition,the Helpdesk continued to receive an increasing number of requests for technical support through remote access,including interventions to resolve technical issues within the system,online sessions to support the installation and verificati

186、on of updates and minor interventions to provide database support.User documentation In 2022,a new user documentation supplement was released,aimed at introducing the new medium-term debt strategy(MTDS)module delivered with DMFAS 6.2 and guiding users through the steps necessary to generate the expo

187、rt file containing the MTDS data set.It is available in English and and will be delivered in French and Spanish in 2023.All user documentation is made available in the client area of the DMFAS website.Technical documentation A new version of the online help system for DMFAS 6 was released in August

188、2022,corresponding to version 6.2.For both online help systems,the English version was released simultaneously with the French and Spanish versions.A new guide,DMFAS 6 Installation Guide 19c for Linux operating systems was finalized and delivered in July 2022.The following installation guides were u

189、pdated in 2022:DMFAS installation guide for Oracle database 12c DMFAS installation guide for Oracle database 19cThe technical document on configuring DMFAS 6 to access the new medium-term debt management strategy module was updated in February 2022 and translated into French.It is intended for DMFAS

190、 administrators and provides step-by-step instructions on how to configure DMFAS 6.2 to access this new module.The portal for technical documentation was updated with the latest versions of the documents.Introduced in 2019,this interface provides online access to technical documentation directly thr

191、ough the DMFAS software,including such resources as installation guides,installer program,database administrator guides,recent release notes and other useful material.Increased remote Increased remote supportsupportUser supplement User supplement on the MTDS on the MTDS modulemoduleUpdated Updated O

192、nline helpOnline helpUpdated Updated installation installation guidesguides20DMFAS PROGRAMME ANNUAL REPORT 20224.4 Partner coordinationIn recent years,technical assistance providers have improved coordination in capacity building efforts using a more holistic approach to meeting the multifaceted cha

193、llenges faced in developing countries in building debt-management capacities.The DMFAS Programme actively supports this coordinated and harmonized approach.PARTNERLAC DEBT GROUP WORLD BANKMEFMICOMSECINTERNATIONAL MONETARY FUND COLLABORATIONAFRITACDEBT MANAGEMENT FACILITY CEGDEBTOR REPORTING SYSTEMCA

194、PTAC-DRSARRTACUNDPAfDBGFSACQPSDDOWNSTREAMUPSTREAMUN-ESCWADRIQEDSSDGADBThe Programme pursued this objective by increasing its coordination with other providers,adopting a policy of avoiding duplication,sharing best practices and maximizing support to other providers.Actions included the regular shari

195、ng of information on technical assistance activities such as mission schedules and reports,and the organization of joint workshops and participation in events.In 2022,collaboration included participation in four partner events.In addition,the list of DMFAS missions was distributed to stakeholders th

196、rough the DMFAS newsletter and website,to keep them informed of the technical assistance activities of the Programme.Debt Management FacilityDMFAS has been an implementing partner of the Debt Management Facility(DMF)since its establishment in 2009.Agreements between the World Bank Group and UNCTAD f

197、ormalized DMFAS participation in DMF I and II.A new partnership agreement for DMF III was signed in June 2021 and activities resumed in 2022.In 2022,the Programme participated in two debt management performance assessments(DeMPA)in the Democratic Republic of the Congo(in-person)and in Pakistan(onlin

198、e),and jointly organized a regional DeMPA training session for francophone countries(online).To date,the Programme has contributed to 75 DMF missions.Participation in these activities received positive feedback from country beneficiaries and other DMF stakeholders.In addition,the Programme participa

199、ted in the Debt Management Facility implementing partners council in June 2022.World Bank The Programme collaborates with various World Bank departments involved in debt management,including the Development Data Group.In 2022,collaboration continued and the Programme both encouraged and assisted cou

200、ntries technically in providing information to Debtor Reporting System(DRS).In 2022,94 per cent of DMFAS user countries provided data to the DRS database.Activities resumed Activities resumed under DMF IIIunder DMF III21DMFAS PROGRAMME ANNUAL REPORT 2022The Programme also cooperates with the World B

201、ank at the country project level.For example,in implementing DMFAS 6 in the Lao Peoples Democratic Republic,DMFAS works in close cooperation with the country office.The World Bank Project Implementation Unit provides logistical support to the project and regular exchanges of information take place w

202、ith the World Bank counterpart.The Programme also has regular exchanges on debt management issues with the Macroeconomics,Trade and Investment(MTI)Global Practice.International Monetary FundThe Programme was in regular contact with the following three main departments of the International Monetary F

203、und(IMF):Statistics Department,Monetary and Capital Markets Department and Strategy,Policy and Review Department.The Programme also participated in the Government Finance Statistics Advisory Committee,a group of internationally recognized experts that advises the IMF on government finance statistics

204、-related matters.This role originated from the membership of DMFAS in the Inter-agency Task Force on Finance Statistics.The Programme takes part in the committee meetings and provides inputs to its work.The DMFAS Programme and the Statistics Department regularly participate as resource persons in ea

205、ch others training events for developing countries on debt statistics(external and public debt statistics).In 2022,the Programme participated in the training organized for member countries of the Macroeconomic and Financial Management Institute of Eastern and Southern Africa and the West African Ins

206、titute for Financial and Economic Management on government finance and public sector debt statistics.The Programme collaborates with IMF regional technical assistance centres with the shared objective of helping countries strengthen human and institutional capacities to design and enact policies tha

207、t promote growth and reduce poverty.The Programme has an ongoing agreement with the Statistics Department to collaborate in debt management-related areas under Data for Decisions,involving regular exchanges of information on activities in DMFAS-user countries receiving support through Data for Decis

208、ions.Asian Development Bank The Programme,with the support of UNCTAD and the United Nations Legal Department,negotiated a technical assistance framework agreement with the Asian Development Bank.This new template agreement,applicable to the entire United Nations Secretariat,facilitates the signature

209、 of technical assistance projects financed by the Asian Development Bank.Macroeconomic and Financial Management Institute of Eastern and Southern AfricaThe Programme has ongoing collaboration with the Macroeconomic and Financial Management Institute of Eastern and Southern Africa(MEFMI),which includ

210、es 14 countries from the region.Six of the member countries are DMFAS user countries,namely Angola,Burundi,Rwanda,Uganda,Zambia and Zimbabwe.In 2022,the Programme and MEFMI strengthened their partnership with the signature of a memorandum of understanding for the joint delivery of activities4.One jo

211、int online workshop took place for member countries and support on procedures was delivered to Zimbabwe.4 For more information on the MoU between UNCTAD and MEFMI,see the article available at:https:/unctad.org/dmfas/UNCTAD-MEFMI-MOUCollaboration Collaboration with MEFMIwith MEFMI22DMFAS PROGRAMME AN

212、NUAL REPORT 2022United Nations Development Programme and United Nations Resident CoordinatorsThe Programme continued to collaborate with the United Nations Development Programme in 2022,including through continued logistical support and the administration of local staff in Argentina,in the Philippin

213、es and in Togo for the DMFAS 7 development team.In addition,in line with the reform of the United Nations development system,the Programme exchanges information with the United Nations resident coordinators offices in areas in which DMFAS is active to ensure smooth coordination between United Nation

214、s agencies delivering technical assistance and to avoid duplication.For example,close collaboration with the resident coordinator office in Yemen contributed to the successful organization of installation and training missions in Aden.Economic and Social Commission for Western AsiaThe Programme coll

215、aborated with the Economic and Social Commission for Western Asia(ESCWA)on a project titled“Sustainable debt financing strategies to enhance fiscal space,provide financing for the SDGs and address the repercussions of COVID-19 in the Arab region”,financed under the fourteenth Tranche of the United N

216、ations Development Account.The project was launched in July 2022 with a regional workshop in Beirut on developing debt optimization strategies to enhance fiscal space in Arab States5.The objective is to support and provide technical assistance to member States in the region in improving capacity for

217、 more effective debt management practices including improving debt transparency and reporting,understanding the mechanisms of debt relief and reduction,debt instruments,risks and linkages to meeting contingencies and debt sustainability in the medium and long terms.The main expected results are impr

218、oved capacity among policymakers to understand debt statistics,debt instruments and risks,which can inform decisions to establish a medium-term to long-term strategy on debt finance towards improving fiscal space and financing for achieving the Sustainable Development Goals.Latin American and Caribb

219、ean Debt GroupWith 12 active DMFAS user countries in the Latin American and Caribbean region,UNCTAD expresses interest in regional capacity building activities organized by the Latin American and Caribbean Debt Group and,where possible,coordinates activities.All user countries in the region provide

220、timely data to the standardized debt database,which is a non-compulsory initiative of the Group.Commonwealth Secretariat and the Debt Data Quality FrameworkThe DMFAS Programme and the Debt Management Unit of the Commonwealth Secretariat are committed to assisting member countries in improving the qu

221、ality of databases,and worked jointly on the development of a new framework for debt data quality assessment(Debt-DQA)aimed at assessing quality of the data recorded in debt management systems in conformity with international standards and best practices in debt management.The Debt-DQA was launched

222、jointly with the Commonwealth Secretariat on the margins of the twelfth UNCTAD Debt Management Conference in November 2019 and the full guidelines were published in 2020.In 2022,the Programme continued to raise awareness on the Debt-DQA,including during the ESCWA workshop in July.In addition,capacit

223、y-building 5 See article published on the DMFAS Summer 2022 newsletter:https:/unctad.org/dmfas/ESCWA-UNCTAD-DMcollaborationCollaboration Collaboration with ESCWAwith ESCWACollaboration Collaboration with COMSECwith COMSEC23DMFAS PROGRAMME ANNUAL REPORT 2022events on debt data quality assessment are

224、already planned to be held in 2023 and include workshops in Jordan and Mauritania under the ESCWA project as well as for MEFMI countries.4.5.Programme managementAs part of efforts to improve overall efficiency and effectiveness under the second objective of the strategic plan,and to better deliver o

225、n the first objective,the Programme implemented several improvements to its administration and communications.Synergies within UNCTADWithin UNCTAD,the DMFAS Programme and the Debt and Finance Analysis Unit under the Debt and Development Finance Branch collaborate on and jointly address debt issues.I

226、n 2022,collaboration included the organization of the thirteenth UNCTAD Debt Management Conference,and covered such areas as debt sustainability and financing for development,the implementation of the ESCWA project and the preparation of UNCTAD reports for the Trade and Development Board,the UNCTAD

227、secretariat and the Office of the Secretary-General of UNCTAD.The Programme also contributed to a number of UNCTAD and United Nations reports.In 2022,these included the following:UNCTAD Annual Report 2021 Annual trust fund progress reports Report by the UNCTAD secretariat on technical cooperation ac

228、tivities carried out in 2021(cluster 116 on strengthening the debt management capacity of developing countries,under the 17 thematic clusters established by the Trade and Development Board in its decision 492(LIV)of 2007.The Programme plays an active role in the implementation of this cluster throug

229、h strengthening the debt management capacity of developing countries)Communications and information sharing,within and outside the ProgrammeIn 2022,the Programme collaborated with the Office of the Secretary-General of UNCTAD on the creation of a video promoting DMFAS technical assistance,using the

230、example of the ongoing project in Mauritania as part of a wider UNCTAD promotional campaign to approach new potential donors,showcasing successful UNCTAD technical assistance programmes.In addition,the Programme worked in cooperation with the UNCTAD communications team to channel news items through

231、the UNCTAD website and social media.The DMFAS website,an important tool that allows users to access specialized content,continued to be regularly updated.It contains up-to-date information on DMFAS activities,documentation and releases of software.The the number of DMFAS users registered in the clie

232、nt area continued to increase,with 88 per cent of active DMFAS user countries having at least one user registered(including four new countries in 2022).The website is fully available in English and French,and 77 per cent of the pages were viewed in English,19per cent in French and 4 per cent in Span

233、ish(newsletters).Among the most downloaded documents were DMFAS brochures,DMFAS annual report,Debt Management Conference documents and DMFAS 6 functional and technical documentation available in the client 6 The Trade and Development Board decision 492(LIV)of 2007 established thematic trust funds wi

234、thin and among divisions of UNCTAD.There are 17 thematic clusters and cluster 11 relates to technical cooperation in debt management.The DMFAS Programme plays an active role in the implementation of this cluster through strengthening the debt management capacity of developing countries.24DMFAS PROGR

235、AMME ANNUAL REPORT 2022area.For documents available in more than one language,for the first time,there were more documents downloaded in French than in English with 44 per cent downloaded in French,21 per cent in English and 20 per cent in Spanish.The remaining 4 percent were either downloaded in Ru

236、ssian or were not translated.Finally,the Programme continues to regularly publish a newsletter;in 2022 three editions were distributed and posted on the website in English,French and Spanish.In 2022,19 per cent of all DMFAS website pages consulted were newsletter pages.4.6.Monitoring and evaluation

237、In line with the second objective of the strategic plan,the Programme continued to monitor and improve its efficiency and effectiveness.It systematically applied its monitoring and evaluation framework included in the strategic plan 20202024.This includes the systematic development of logical framew

238、orks with verifiable indicators of progress for all projects and the more transparent and inclusive involvement of stakeholders.In 2022,the Programme continued to implement and improve the monitoring of progress at the country level using its monitoring and evaluation framework based on refined perf

239、ormance indicators and the new Umoja integrated planning,monitoring and reporting module in line with UNCTAD requirements.At the project level,the Programme conducted three final project evaluations in the Lao Peoples Democratic Republic,the Philippines and Zambia,two midterm evaluations in Azerbaij

240、an and the Philippines and four project coordination missions in Equatorial Guinea,Guinea,Kyrgyzstan and Tajikistan.Improved efficiency and effectiveness of the Programmes administrationAn independent evaluator conducted a midterm review of the implementation of the strategic plan 20202024.Final con

241、clusions and recommendations were presented at the meeting of the DMFAS Advisory Group in December 2022.The evaluator found a high level of satisfaction among users with DMFAS products and services and that DMFAS was highly effective and efficient in providing services.In addition,DMFAS support was

242、essential in the production of the debt information required to conduct upstream debt functions,such as debt sustainability analysis.The evaluator noted the strategic contribution of the Programme to strengthening debt data transparency and public accountability in user countries and that the Progra

243、mme had a“high,sustainable positive impact”.Lessons learned and recommendations will be integrated into the development of the next strategic plan.GovernanceThe Advisory Group,in its conclusions,commended the positive results achieved to date by the Programme in the implementation of the strategic p

244、lan and endorsed the conclusions of the evaluator,reaffirming sustainable positive impact of the Programme on debt management(annex 8).The Advisory Group noted its appreciation of the highly effective support in responding to the needs of debt management offices due to the pandemic and stressed the

245、importance of providing continuous training and capacity development opportunities.The Group expressed its appreciation for the development of DMFAS 7,which would enable expanded data coverage,be more intuitive and respond to important reporting and analytical needs.The Group emphasized the essentia

246、l role of the Programme in assisting countries in building sustainable capacity for the effective management of public debt,and stressed the importance of having the funding necessary to respond effectively to critical and evolving needs in developing countries.25DMFAS PROGRAMME ANNUAL REPORT 20225.

247、Funding and expenditures in 2022An overview of the financial situation of the Programme at the end of 2022 is presented in this section.The information presented is not an official financial statement from UNCTAD.It is based on available data at the time of writing and subject to change.DMFAS activi

248、ties are financed through a central trust fund and various country project trust funds.The central trust fund finances the core activities of the DMFAS Programme,such as the Helpdesk,training and documentation,system maintenance and development,quality assurance and user support and Programme manage

249、ment.The country project trust funds finance national activities,which are defined and agreed with beneficiary countries in a project document.5.1 Central trust fund of the DMFAS ProgrammeThe resources of the central trust fund can be grouped into the following four main categories:Donor contributio

250、ns Cost sharing by beneficiary countries and institutions Cost recovery for project activities and services Support from UNCTAD Table 3 provides an overview of the income for the DMFAS central trust fund in 2022.Table 3.Income of DMFAS central trust fund,2022(dollars)Balance as at 1 January 2022405

251、003Donor contributions3 250 912France86 115 Germany557 809 Ireland 205 761 Netherlands(Kingdom of the)518 135 Switzerland 816 993 European Union1 066 098 Cost sharing1 348 368Maintenance fees 549 330 Development contributions 455 000 From country projects funded by Governments 394 038 Cost recovery5

252、97 261 From country projects funded by donors 544 148 Payments for services(DMF and other)53 113 UNCTAD contribution1 056 158 In kind 851 304 Financial 204 854 Interest and other adjustments-33 864TOTAL 6 623 836Source:UNCTADNote:The table covers the core DMFAS trust fund,trust funds for specific pu

253、rposes,and payments from projects for specific services for which the source is country project trust funds;and is based on current actual costs and is subject to change related to currency fluctuation and changes in United Nations conditions of service.26DMFAS PROGRAMME ANNUAL REPORT 20225.1.1 Dono

254、r contributionsFor 2022,donor support received amounted to$3.25 million(table 3)with contributions from Germany,France,Ireland,the Kingdom of the Netherlands,Switzerland and the European Union.In comparison,the Programme received$3.8 million in 2021 and$3.2 million in 2020.A history of donor contrib

255、utions since the implementation of the central trust fund in 2013 is available in annex 9.5.1.2 Cost-sharing and cost recoveryA particular feature of the DMFAS Programme compared with other technical cooperation programmes is that it generates a large part of the income for the DMFAS central trust f

256、und from cost-sharing with beneficiaries.Two mechanisms have been designed to ensure effective cost-sharing and to cover part of the Programme running costs,namely maintenance fees and development contributions.Annual maintenance fees and development contributions are graduated according to the inco

257、me levels of beneficiary countries.There was a significant improvement in cost-sharing and cost recovery income for the Programme in 2022,and the lifting of pandemic-related 19 travel restrictions allowed for missions to be held in person.Income increased from$1.3 million in each of 2020 and 2021 to

258、 approximately$2 million in 2022,an increase of 55 per cent.Maintenance agreements and contributionsMaintenance agreements are offered to new beneficiary institutions when DMFAS is installed.Agreements are signed on a voluntary basis.They contribute to the financing of Helpdesk support provided by t

259、he Programme at the request of the client.Maintenance fees are highly relevant as a source of constant and regular income for the Programme(table 4).In 2022,the twenty-first year since maintenance fees were first implemented,the Programme collected$549,330.The trend in the number of signed agreement

260、s on maintenance fees remained stable,as approximately 90 per cent of institutions benefiting from DMFAS signed an agreement.Annex 10 shows the evolution of signed maintenance agreements and the payments of maintenance fees since the implementation of the cost-sharing mechanism.Development contribut

261、ionsDevelopment contributions were created to contribute to the enhancement of the DMFAS software.They are made by the beneficiary institution when DMFAS is installed.In 2022,development contributions were received from Chad,Djibouti,Equatorial Guinea,Kyrgyzstan(partial),Yemen and the State of Pales

262、tine for a total of$405,000.27DMFAS PROGRAMME ANNUAL REPORT 2022Table 4.Income from cost-sharing and recovery,2002-2022(Dollars)YearMaintenance feesDevelopment contributionsStaff time recovery20029 689-374 2302005189 709183 000396 7422006226 37932 000200 0032007198 63650 0003

263、86 0002008199 526117 910256 4552009268 232210 000513 2462010263 491225 000349 7152011290 470712 500889 6062012242 464262 500907 6002013399 785200 000640 8842014501 363162 500707 0412015393 941346 128583 4442016517 029224 9751 388 4992017513 348212 500909 3772018563 602161 237945 8582019464 750248 70

264、9954 2562020698 208100 000516 8472021592 297120 000591 3372022 549 330 405 000 991 299 Total 7 338 149 3 973 959 12 502 439 Source:UNCTADNote:2014 and 2020 were exceptional years due to the receipt of back payments from a number of countries;2011 was an exceptional year with regard to the developmen

265、t contributions due to the launch of DMFAS 6 and its installation in many countries.Staff time recovery from project activitiesIn accordance with the Programmes cost recovery policy,the time dedicated by DMFAS staff to projects is recovered from project budgets.This recovery is considered as cost-sh

266、aring when the projects are funded by the budget of beneficiary Governments and as cost recovery when they are funded by direct contributions from donors.In 2022,in-person missions resumed as pandemic-related travel restrictions were lifted in most countries.Some missions continued to be replaced by

267、 online activities,yet most planned missions were held in person.In 2022,the overall amount recovered for DMFAS staff time dedicated to project activities(undifferentiated between cost-sharing and cost recovery)was$991,299,nearly 70 per cent higher than in 2021($591,337).28DMFAS PROGRAMME ANNUAL REP

268、ORT 20225.1.3 Institutional support from UNCTADUNCTAD supports the DMFAS Programme by financing five posts through the regular budget.The professional category staff members supported by the UNCTAD regular budget are the chief,one programme officer and one communications officer.Two general services

269、 staff members are also employed in the Administration and Communication Unit.In 2022,UNCTAD contributed$1,056,158,of which$851,304 was for the five posts and$204,854 was financial contributions towards central team salaries.5.2 Central trust fund expenditures Expenditures are divided into two main

270、categories,personnel and non-personnel(table 5).Personnel expenditures include core staff of the Programme financed by regular budget and extrabudgetary sources.Non-personnel expenditures include travel,system development,consultancy services,training,conference costs,equipment,and miscellaneous ite

271、ms.Overall and as budgeted,expenditures in 2022 compared with those in 2021 reflected a slight decrease of 3 per cent.Personnel costs were slightly slower approximately 3.8 per cent and non-personnel costs were$270,878 less than in 2021.The Programme continued to invest in the development of DMFAS 7

272、 with the software development team in Togo and contractual services.One professional post(P3 level)remained unfilled in 2022 and a general service post(G5 level)was filled in 2022.The professional post(P3)is expected to be filled in 2023.Table 5.DMFAS Programme expenditures,2022(Dollars)Personnel 4

273、 828 733 Central team 3 977 429 Regular budget staff 851 304 Non-personnel 1 058 963 Joint partner activities*-Information technology systems development 921 527 Capacity building 66 283 Programme monitoring and evaluation 71 154 Miscellaneous-Total expenditures5 887 697Balance 736 140Reserve for Ja

274、nuary and February 2023 expenditures 700 000 Closing balance 36 140Source:UNCTAD29DMFAS PROGRAMME ANNUAL REPORT 20225.3 Budget DMFAS Programme budget needs were based on the full implementation of strategic plan 20202024.Financing all of these needs would have been an ideal situation wherein all for

275、eseen activities in the plan would have been achieved.The plan was not fully financed due to the initial shortfall in budgeted donor funding and the reduced number of project activities due to the pandemic that affected cost recovery and cost-sharing income in 2020 and 2021.A comparison of full fina

276、ncing of the plan(scenario 1)with a reduced budget(scenario 2)is shown in table 6.Table 6.DMFAS strategic plan budget,20212024(Thousands of dollars)Scenario 222023Personnel6 2856 4016 1226 235Joint partner activities58596061Capacity building1 0351 1071 0751 149Information technology syste

277、ms development650641367232Monitoring and evaluation34353536Miscellaneous33332121Total8 0958 2757 6807 735Scenario 22020(Actual)2021(Actual)2022(Actual)2023Personnel 4 789 5 019 4 829 4 830 Joint partner activities-27 Capacity building 10 7 66 123 Information technology systems development309 1 323 9

278、22 884 Monitoring and evaluation-71 2 Miscellaneous-23 Total 5 109 6 348 5 888 5 889 Source:UNCTAD5.4 Country-specific project trust fundsCountry-specific activities,that is,those that deliver core products and services at the national level,are mostly financed on a bilateral basis by ad hoc country

279、 trust funds.The different sources of financing for these trust funds are the beneficiaries themselves,bilateral donors and other international organizations and institutions,such as the European Union,regional development banks and the World Bank.Middle-income countries are increasingly fully self-

280、financing national projects.Following the lifting of pandemic-related travel restrictions,in-person missions resumed in 2022,resulting in greater expenditures for country-specific trust funds compared with in 2021,amounting to$2,079,288 to deliver technical assistance in 24 institutions.Total expend

281、itures under these trust funds were over 120 per cent higher than in 2021.Table 7 provides a breakdown of countries budget,expenditures and final balance available.30DMFAS PROGRAMME ANNUAL REPORT 2022Table 7.Available country project trust funds and project expenditures,2022(Dollars)CountryBudgeted

282、fundsExpendituresBalanceAngola30 1293 34926 780Argentina27 20614 026 13 180Argentina,(Province of Rio Negro)38 507 14 392 24 115 Azerbaijan*816 36351 064 441 302Chad245 759 185 25460 505Djibouti143 065 15 000 128 065 Egypt*-136 184-Equatorial Guinea850 000 366 820 483 180Ethiopia235 572 67 806 167 7

283、66 Gabon588 856 90 127498 729Guinea 275 998 268 528 7 470Jordan4 1363 923213Kyrgyzstan*-60 093-Lao Peoples Democratic Republic46 129 45 648 481 Mauritania150 000 127 838 22 162Nicaragua6 082 2 7693 313Paraguay226 185 74 379 151 806Philippines(Central bank)321 232 114 209 207 023 Philippines(Treasury

284、)102 823 64 89037 933Sudan(Central bank)5 390 4 525865Tajikistan*-72 720-Yemen150 000 74 91975 081Zambia46 749 28 72118 028State of Palestine154 268 117 31836 950Total4 464 4502 079 2882 385 161Source:UNCTAD*Notes:Funding for Azerbaijan,Egypt,Kyrgyzstan,and Tajikistan has a remaining balance of$441

285、302.The number of countries listed in table 7 does not necessarily coincide with the total number of countries and institutions receiving support,a number of these are active DMFAS users which continue to receive support without funding for specific project activities.In relation to the regional dis

286、tribution and income-level distribution of country project expenditures,projects in sub-Saharan Africa and in low-income and lower middle-income economies accounted for the greatest shares(figures 9 and 10).31DMFAS PROGRAMME ANNUAL REPORT 2022Figure 9.Country project expenditures:Regional distributi

287、on as percentage of total expenditures,2022Sub-Saharan Africa57 per cent Latin America and the Caribbean 5 per cent Europe and Central Asia 11 per cent East Asia and Pacifc 11 per cent Middle East and North Africa 16 per cent Source:UNCTADFigure 10.Country project expenditures:income-level distribut

288、ion as percentage of total expenditures,2022Upper-middle-income economies 30 per cent Lower-middle-income economies 40 per cent Low-income economies 30 per cent Source:UNCTAD32DMFAS PROGRAMME ANNUAL REPORT 2022CHALLENGES AND THE WAY FORWARDSeveral trends in debt management are shaping the range of s

289、ervices of the DMFAS Programme as follows:The current environment for financing for countries is challenging and competitive with investors requiring debt transparency and the availability of good debt data.Similarly,multilateral lenders such as the World Bank and the International Monetary Fund hav

290、e established more stringent reporting requirements and debt management performance requirements.The Programme continues to focus on debt reporting and debt statistics,in collaboration with other stakeholders.The complexity of debt instruments available is increasing(for example thematic bonds and f

291、inancial derivatives).Coverage of instruments in the system is being extended to include not only traditional debt instruments but also additional instruments to cover total public sector debt,including recording and monitoring of non-traditional debt instruments,contingent liabilities and financial

292、 derivatives.There is an increasing number of DMFAS user countries adopting International Public Sector Accounting Standards in conformity with international standards.DMFAS has a new module allowing for calculations of debt positions based on accrual accounting,which also facilitates the integratio

293、n of DMFAS into national integrated financial management information systems.Many countries are integrating DMFAS into the greater financial or public finance management system.Most new technical assistance projects therefore include an integration component.The main focus of the Programme with rega

294、rd to such interfaces is to provide technical assistance in designing,building and maintaining the relevant links.In 2022,the Programme resumed large scale in-country support to enable debt management offices to ensure the effective recording,reporting and monitoring public debt,including for debt s

295、uspension or relief initiatives.The Programme focused on proceeding with project activities in countries in which teleworking was not possible to avoid accumulating delays.The external evaluator proposed a series of recommendations to improve the relevance,effectiveness,efficiency,sustainability and

296、 coherence of DMFAS to improve capacity to address the above-mentioned trends and challenges and to expand training activities in order to include auditors.The pandemic served to accelerate certain changes in modes of delivery for DMFAS support,in particular development of the capacity to deliver su

297、pport remotely.It reinforced the need for remote access to debt databases,to ensure the continuous recording,reporting and monitoring of public debt,including in exceptional circumstances.It also served to show the limits of online training and the importance of face-to-face interactions in countrie

298、s.The Programme largely adapted to the situation by providing increased online technical support and strengthened its ability to deliver capacity building activities remotely.After nearly two years of delivering mainly support remotely,the need for a mixed approach to capacity development,including

299、field delivery,is clear.Experience shows that there are requirements for effective online training that are not always available in countries,including high bandwidth,the availability of dedicated equipment,and the commitment of local management of the debt management offices to mobilize participant

300、s.In addition,the pandemic served to show that online training activities Trends in debt Trends in debt managementmanagementLessons from Lessons from the pandemicthe pandemic33DMFAS PROGRAMME ANNUAL REPORT 2022require more human resources and longer duration.In 2022,countries expressed the importanc

301、e of receiving in-person training.For new user countries,it is recommended that,the initial installation and basic training not be delivered remotely.The presence of a trainer among new users is essential,to validate the installation of the system in the institution and ensure the effective transfer

302、 of knowledge to new users in order that they feel confident working with DMFAS.A recurring challenge is the need to retrain debt officers,since debt management offices often face a high level of staff turnover.Staff turnover remains a major issue for many debt management offices,and the Programme w

303、ill therefore continue to expand the development of self-learning material,to allow new users to update knowledge in basic debt management.The pandemic impacted the delivery of technical assistance projects,along with the pace of development of DMFAS 7,including with regard to the recruitment of dev

304、elopment teams,the availability of support services,and the delivery of IT equipment.The Programme made exceptional efforts to speed up development and catch up as much as possible following the delays,mobilizing all available resources.However,given the high level of competition in recruiting infor

305、mation technology experts,as well as a shortage of semiconductors,quickly recruiting the necessary resources and purchase equipment posed a challenge.Strong synergies with regional partners,in particular with the MEFMI,proved crucial in providing additional support to countries,including in areas wi

306、thout active DMFAS technical assistance projects.The Programme will continue to deepen such cooperation with other regional technical assistance providers as an effective way of serving countries.Way forwardThe pandemic has had a long-term impact on the way in which debt offices work,and access and

307、use DMFAS software,as well as on the delivery of capacity development support.Investments made by the Programme since 2020 will help serve countries beyond the crisis.With the roll-out of DMFAS 7,the Programme will further invest in developing blended capacity building,combining face-to-face,self-le

308、arning and virtual activities and incorporating the lessons learned during the pandemic.New capacity-building modules will be developed to strengthen the knowledge of debt officers in managing complex debt portfolios.With the current pace of development,DMFAS 7 will be installed in pilot countries f

309、or beta testing in 2023.New training material for the installation,and for technical and functional training will be developed.With the roll-out of this major new version,countries will be in a position to expand the recording,monitoring and reporting of total public debt,enhancing debt data transpa

310、rency.In 2022,the security situation continued to deteriorate in some countries and affected the work of the debt office.Experience has shown that consequences of conflicts range from important changes in staffing in a debt office to the loss of the debt database or suspension of use of the system.I

311、n such situations,UNCTAD support is key in helping countries rebuild capacities to effectively manage public debt.The importance of debt data transparency remains high on the international community agenda,in particular in the context of the accumulation of debt by developing countries reaching a re

312、cord high.The need for readily available and detailed debt data has been accentuated,highlighting the key role of the DMFAS Programme as a technical assistance provider in the downstream areas of debt management.Blended-learningBlended-learningHigh staff High staff turnoverturnoverSystem System deve

313、lopmentdevelopmentSynergies with Synergies with regional partnesregional partnesDMFAS 7 DMFAS 7 roll outroll outDeterioration of Deterioration of security situation security situation 34DMFAS PROGRAMME ANNUAL REPORT 2022ANNEX 1.EXTRACTS OF CURRENT UNITED NATIONS AND INTERNATIONAL MANDATES RELEVANT T

314、O THE WORK OF THE DMFAS PROGRAMMEUnited Nations General Assembly Resolution 77/153 on external debt sustainability and development(adopted on 14 December 2022)“Emphasizing that debt sustainability is essential for underpinning growth,underlining the importance of debt sustainability,debt transparenc

315、y and effective debt management to the efforts to achieve the Sustainable Development Goals,and acknowledging that debt crises are costly and disruptive,including for employment and productive investment,and tend to be followed by cuts in public spending,including on health and education,affecting t

316、he poor and vulnerable in particular,”“Reaffirming that each country has primary responsibility for its own development,including through maintaining its own debt sustainability,and that the role of national policies and development strategies,including in the area of debt management,is central to t

317、he achievement of sustainable development,and recognizing that national efforts,including to achieve development goals and to maintain debt sustainability,should be complemented by supportive global programmes,measures and policies aimed at expanding the development opportunities of developing count

318、ries,while taking into account national conditions and ensuring respect for national ownership,strategies and sovereignty,”Paragraph 2:“Emphasizes the special importance of timely,effective,comprehensive and durable solutions to the debt problems of developing countries to promote their economic gro

319、wth and development”Paragraph 7:“stresses the need for improved data collection and quality in areas that include domestic public debt,domestic and external private debt,as well as legal and regulatory features,such as ownership,currency denomination and jurisdiction according to national priorities

320、;”Paragraph 8:“Also reiterates that timely and comprehensive data on the level and composition of debt are necessary for,inter alia,building early warning systems aimed at limiting the impact of debt crises,calls for debtor and creditor countries to intensify their efforts to collect and release dat

321、a,where appropriate,welcomes the ongoing work of relevant institutions to apply innovative tools for monitoring financial stress in developing countries and to invite relevant institutions to consider the creation of a central data registry that includes information on debt restructuring to,and call

322、s for donors to consider increasing their support for technical cooperation programmes aimed at increasing the statistical capacity of developing countries in that regard;”Paragraph 9:“Encourages the United Nations system,including the World Bank Group,the International Monetary Fund and other relev

323、ant stakeholders,including the Development Assistance Committee of the Organization for Economic Cooperation and Development,to continue to conduct analytical activities and to provide policy advice and technical assistance to Governments,upon request,in the areas of managing debt,and operating and

324、maintaining databases,and in this regard recalls that the United Nations Conference on Trade and Development should continue its analytical and policy work and technical assistance on debt issues,including the Debt Management and Financial Analysis System Programme,so that this extends not only to i

325、mprovements in the timeliness and accuracy of debt data recording,but also 35DMFAS PROGRAMME ANNUAL REPORT 2022to the enhanced coverage of public sector and other relevant debt data,including,in particular,heretofore unrecorded or hidden debt instruments,contingent liabilities and more complex debt

326、instruments;”Paragraph 10:“Stresses the need to strengthen information-sharing and transparency among all creditors and borrowers to make sure that debt sustainability assessments are based on comprehensive,objective and reliable data,including an assessment of national public and private debt,in or

327、der to ensure the achievement of sustainable development goals,encourages further improvement of the mutual exchange of information,on a voluntary basis,on borrowing and lending among all creditors and borrowers,and takes note of the Paris Forum initiative,which gathers together sovereign creditors

328、and debtors to share views and information,promote greater debt transparency and preserve debt sustainability;”Paragraph 11:“Recognizes that the long-term sustainability of debt depends on,inter alia sustainable debt management,”Paragraph 12.“Notes with concern that some low-and middle-income develo

329、ping countries that were not part of the existing debt relief initiatives initiatives now have large debt burdens that may create constraints on mobilizing the resources needed to achieve the Sustainable Development Goals indicating a need to consider,as appropriate,stronger debt management initiati

330、ves for those countries,;”Paragraph 14:“Stresses the need for the international community to remain vigilant in monitoring the debt situation of developing countries,including the least developed countries,landlocked developing countries and small island developing States,and to continue to take eff

331、ective measures,preferably within existing frameworks,when applicable,to address the debt problem of those countries,acknowledges that sound debt management initiatives can play a key role in liberating resources that should be directed towards activities consistent with the eradication of poverty i

332、n all its forms and dimensions,including extreme poverty,and with the promotion of sustained economic growth and development and the internationally agreed development goals,including the Sustainable Development Goals”Paragraph 19:“Further recognizes the importance of the creation of robust,national

333、ly appropriate legal and regulatory frameworks for sustainable national and municipal borrowing,on the basis of sustainable debt management,”Paragraph 21:“Recognizes with appreciation the steps taken by the Group of 20,in particular under the presidencies of Saudi Arabia,Italy and Indonesia to further promote debt-related measures and the implementation of the Debt Service Suspension Initiative an