Resource information
From February 19 to 28, 2009, a World
Bank team undertook a debt management performance assessment
(DeMPA) mission to Honiara, Solomon Islands. The objective
was to undertake a comprehensive assessment of debt
management functions applying the DeMPA tool. The assessment
reveals that the Solomon Islands meets the minimum
requirements for effective debt management performance as
specified by the DeMPA tool on the legal framework,
coordination with monetary policy, and debt reporting. While
taking note of substantial efforts to improve performance in
a number of areas, the assessment also found that the
Solomon Islands does not meet the minimum requirements for
the indicators assessing the debt management strategy,
managerial structure, coordination with fiscal policy,
domestic borrowing, cash flow forecasting and cash balance
management, debt records, and debt recording. The mission
also identified the following areas that require improvement
and could be considered priorities for capacity building and
reform: evaluation of debt management operations; auditing;
external borrowing; loan guarantees, on-lending and
debt-related transactions; debt administration and data
security, and; segregation of duties, staff capacity and
business continuity.
