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Advancing Contingent Debt Management: Previous Work, Benefits, and Next Steps

This presentation aims to highlight previous work done on contingent debt, discuss the benefits of further work, introduce a draft questionnaire, and agree on the way forward. It covers areas such as debt reporting, budgeting, and risk management, as well as the audit of contingent debt. Feedback from the committee members is welcomed.

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Advancing Contingent Debt Management: Previous Work, Benefits, and Next Steps

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  1. Contingent Debt Mark Allen (UK National Audit Office)

  2. Aims • To highlight previous work done by the PDC on contingent debt • To consider the benefits of further work • To introduce the draft questionnaire on contingent debt • To agree the way forward

  3. Contingent debt - previous work • Guidance on the reporting of public debt – May 2000 • Fiscal Exposures: Implications for Debt Management and the Role of SAIs – February 2003 • Informal working group on fiscal exposure

  4. Contingent debt - benefits of further work • More focussed attention on the issues • Opportunity to track progress • Potential for new PDC guidance on contingent debt • Potential contribution to development of public debt audit training

  5. Draft questionnaire – objectives (1) • To provide a tool to facilitate the collection of comprehensive information on contingent debt in INTOSAI member states • To keep questions as simple as possible and easy to understand

  6. Draft questionnaire – objectives (2) • To restrict questions to essential issues • To provide respondent countries with scope to describe the particular issues that are relevant to them

  7. Draft questionnaire – areas covered (1) • What is contingent debt? • Identification and classification of contingent debt • Assessing the expected costs of contingent debt

  8. Draft questionnaire – areas covered (2) • Reporting of contingent debt • Budgeting for contingent debt • Control mechanisms and risk management

  9. Draft questionnaire – areas covered (3) • The audit of contingent debt • Key strengths and weaknesses

  10. The next steps? • Welcome feedback and comments from Committee members • What next?

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