[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-108169-en":3,"doc-seo-108169-105":30,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":13,"seo_description":14,"update_tm":28,"read_time":29},108169,687197100911,"Himbo","https://ap-avatar.wpscdn.com/avatar/a000239b6f1da00475?x-image-process=image/resize,m_fixed,w_180,h_180&k=1785132997149421697",8,"Research & Report","Debt Management Performance Assessment (DeMPA) - Georgia - February 2020","Debt Management Performance Assessment (DeMPA) provides a structured way to evaluate public debt management performance across the full range of governmental functions. The approach adapts the PEFA framework and uses 14 performance indicators with a defined scoring methodology, supported by a user guide. In February 2020, a World Bank mission assessed Georgia’s debt management capacity and institutions through the DeMPA method, focusing on legal, institutional, and operational arrangements and identifying reform priorities.","Public Disclosure Authorized Public Disclosure Authorized  \nDebt Management Performance Assessment  \n(DeMPA)  \nGeorgia  \nFebruary 2020  \nThe DeMPA is a methodology for assessing public debt management performance based on a comprehensive set of indicators spanning the full range of governmental debt management functions. It is adapted from the Public Expenditure and Financial Accountability (PEFA) framework. The DeMPA tool presents 14 performance indicators along with a scoring methodology. The DeMPA tool is complemented by a guide that provides supplemental information on using the indicators.  \nFor additional information on the World Bank's Debt Management Technical Assistance Program, including more on the DeMPA tool, please visit our website at: [http://www.worldbank.org/debt](http://www.worldbank.org/debt)  \nEXECUTIVE SUMMARY 5  \nBACKGROUND AND GOVERNMENT DEBT 8  \n2.1 Economic Background 8  \n2.2 Government debt 10  \nDEBT MANAGEMENT PERFORMANCE ASSESSMENT (DEMPA) 12  \n3.1 DeMPA Methodology 12  \n3.2 Summary of Performance Assessment 14  \nPERFORMANCE INDICATOR ASSESSMENT 15  \n4.1. Governance and Debt Management Strategy 15  \nDPI-1 Legal Framework 15  \nDPI-2 Managerial Structure 16  \nDPI-3 Debt Management Strategy 18  \nDPI-4 Evaluation of Debt Management Operations Error! Bookmark not defined.  \nDPI-5 Audit 22  \n4.2 Coordination with Macroeconomic Policies 24  \nDPI 6 Coordination with Fiscal Policy 24  \nDPI 7 Coordination with Monetary Policy Error! Bookmark not defined.  \n4.3. Borrowing and Related Financing Activities 27  \nDPI-8 Domestic Borrowing 27  \nDPI-9 External Borrowing 30  \nDPI 10 Guarantees, On-lending and Debt-related Transactions 33  \n4.4. Cash Flow Forecasting and Cash Balance Management 35  \nDPI 11 Cash Flow Forecasting and Cash Balance Management 35  \n4.5. Debt Recording and Operational Risk Management 36  \nDPI 12 Debt Administration and Data Security Error! Bookmark not defined. DPI 13 Segregation of Duties, Staff Capacity, and Business Continuity 37  \nDPI 14 Debt Records 41  \nANNEX 1: COMPARISON OF DEMPA SCORES IN 2013 AND 2020 45  \nAbbreviations and Acronyms  \n\n| BCP | Business Continuity Plan |\n| --- | --- |\n| CD | Certificates of Deposit |\n| DeM | Debt Management |\n| DeMPA | Debt Management Performance Assessment |\n| DMS | Debt Management Strategy |\n| DPI | Debt Performance Indicator |\n| DRP | Disaster Recovery Plan |\n| DSA | Debt Sustainability Analysis |\n| eDMS | Electronic Debt Management System |\n| eTreasury | Electronic Treasury System |\n| GDP | Gross Domestic Product |\n| GEL | Georgian Lari |\n| GoG | Government of Georgia |\n| GSSS | Georgia Security Settlement System |\n| HR | Human Resource Management |\n| IAS | Internal Audit Service |\n| IFIs | International Financial Institutions |\n| IMF | International Monetary Fund |\n| MoF | Ministry of Finance |\n| MTEF | Medium Term Expenditure Framework |\n| NBG | National Bank of Georgia |\n| N/A | Not Applicable |\n| N/R | Not Rated or Assessed |\n| PDMD | Public Debt Management Department |\n| PEFA | Public Expenditure and Financial Accountability |\n| SAO | Supreme Audit Office |\n| RTGS | Real Time Gross Settlement System |\n| SOEs | State-Owned Enterprises |\n| TA | Technical Assistance |\n| T-bills | Treasury Bills |\n| T-bonds | Treasury Bonds |\n| TS | Treasury Services |\n| WB | World Bank |\n\nExecutive Summary  \nDuring February 11-19, 2020, World Bank staff undertook a mission to assess the Georgian government’s debt management capacity and institutions. The mission team comprised Lilia Razlog (mission lead, EMFMD, World Bank), Zsolt Bango (EFNLT, World Bank), Ying Li, and Juan Carlos Vilanova (consultants, World Bank) . The mission’s objective was to identify strengths and areas for improvement in debt management by applying the Debt Management Performance Assessment (DeMPA) methodology.  \nThe DeMPA mission provided technical assistance to evaluate the legal, institutional, and regulatory framework for government debt management. The primary counterpart was the P","cbCainxnyQtZWcdf","https://ap.wps.com/l/cbCainxnyQtZWcdf","pdf",801165,5,1,50,"English","en",105,"# Executive Summary\n# Background and Government Debt\n## Economic Background\n## Government debt\n# Debt Management Performance Assessment (DeMPA)\n## DeMPA Methodology\n## Summary of Performance Assessment\n# Performance Indicator Assessment\n## Governance and Debt Management Strategy\n## Coordination with Macroeconomic Policies\n## Borrowing and Related Financing Activities\n## Cash Flow Forecasting and Cash Balance Management\n## Debt Recording and Operational Risk Management\n# Annex 1: Comparison of DeMPA Scores in 2013 and 2020","[{\"question\":\"What is the DeMPA methodology used for?\",\"answer\":\"DeMPA assesses public debt management performance using a comprehensive set of indicators covering the full range of governmental debt management functions. It provides a scoring methodology to evaluate results systematically.\"},{\"question\":\"How was the DeMPA assessment conducted in Georgia in February 2020?\",\"answer\":\"A World Bank mission visited Georgia from February 11–19, 2020 to assess the government’s debt management capacity and institutions. The mission applied the DeMPA methodology and worked with the main counterpart, the Public Debt Management Department.\"},{\"question\":\"What were the key improvements found since the previous assessment in 2013?\",\"answer\":\"The assessment reported progress such as development and publication of a debt management strategy, improved debt management audits, enhanced institutional structure, more timely and accurate debt recording, and stronger middle- and back-office functions. It also noted continued support for front-office activities via the NBG.\"}]",1784469245,126,{"code":4,"msg":31,"data":32},"ok",{"site_id":25,"language":24,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":28},"debt-management-performance-assessment-dempa-georgia-february-2020","",{"@graph":36,"@context":86},[37,54,69],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,51],{"item":41,"name":42,"@type":43,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":45,"name":46,"@type":43,"position":47},"https://docshare.wps.com/document/","Document",2,{"item":49,"name":12,"@type":43,"position":50},"https://docshare.wps.com/document/research-report/",3,{"item":52,"name":13,"@type":43,"position":53},"https://docshare.wps.com/document/debt-management-performance-assessment-dempa-georgia-february-2020/108169/",4,{"url":52,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":41,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-07-30","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"What is the DeMPA methodology used for?","Question",{"text":76,"@type":77},"DeMPA assesses public debt management performance using a comprehensive set of indicators covering the full range of governmental debt management functions. It provides a scoring methodology to evaluate results systematically.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"How was the DeMPA assessment conducted in Georgia in February 2020?",{"text":81,"@type":77},"A World Bank mission visited Georgia from February 11–19, 2020 to assess the government’s debt management capacity and institutions. The mission applied the DeMPA methodology and worked with the main counterpart, the Public Debt Management Department.",{"name":83,"@type":74,"acceptedAnswer":84},"What were the key improvements found since the previous assessment in 2013?",{"text":85,"@type":77},"The assessment reported progress such as development and publication of a debt management strategy, improved debt management audits, enhanced institutional structure, more timely and accurate debt recording, and stronger middle- and back-office functions. It also noted continued support for front-office activities via the NBG.","https://schema.org",{"og:url":52,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":52},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,110,114,119,122,127,130,134],{"id":21,"doc_module":4,"doc_module_name":46,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":47,"doc_module":4,"doc_module_name":46,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":53,"doc_module":4,"doc_module_name":46,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":20,"doc_module":4,"doc_module_name":46,"category_name":107,"show_sort_weight":108,"slug":109},"Comic",60,"comic",{"id":111,"doc_module":4,"doc_module_name":46,"category_name":112,"show_sort_weight":22,"slug":113},6,"Technology","technology",{"id":115,"doc_module":4,"doc_module_name":46,"category_name":116,"show_sort_weight":117,"slug":118},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":46,"category_name":12,"show_sort_weight":120,"slug":121},30,"research-report",{"id":123,"doc_module":4,"doc_module_name":46,"category_name":124,"show_sort_weight":125,"slug":126},9,"Religion & Spirituality",20,"religion-spirituality",{"id":125,"doc_module":4,"doc_module_name":46,"category_name":128,"show_sort_weight":125,"slug":129},"World Cup","world-cup",{"id":131,"doc_module":4,"doc_module_name":46,"category_name":132,"show_sort_weight":131,"slug":133},10,"Lifestyle","lifestyle",{"id":135,"doc_module":4,"doc_module_name":46,"category_name":136,"show_sort_weight":20,"slug":137},19,"General","general"]