英文_IMF_马拉维-公共部门债务统计团数据质量评估技术援助报告（2025年1月29日至2月4日）_36页_948kb

Summary of the Technical Assistance Report on Malawi's Public Sector Debt Statistics (PSDS)

Core Content

This report presents an assessment of the quality of Malawi's public sector debt statistics (PSDS) conducted by the IMF mission team from January 29 to February 4, 2025. The evaluation was carried out using the IMF's Data Quality Assessment Framework (DQAF) for PSDS 2024. The mission was part of a two-year project aimed at improving public sector debt data quality in select African countries, funded by the Government of Japan through the Japan Administered Account for Selected IMF Activities (JSA).

Main Objective

The primary goal of the mission was to identify strengths and areas for improvement in the compilation and dissemination of PSDS, as well as to recommend priority actions to enhance public debt data transparency in Malawi.

Key Findings and Recommendations

Prerequisites of Quality

• Legal and Institutional Environment: The legal framework for public debt management is in place but lacks clarity on specific responsibilities for data collection, processing, and dissemination. A new legislation, the Public Debt Management Act, is recommended to explicitly assign these duties to the Public Debt and Aid Management Division (DAD) of MoFEA.
• Resources: Human and financial resources are generally sufficient, but computing resources and IT infrastructure are inadequate. The implementation of the upgraded Integrated Financial Management Information System (IFMIS) is recommended, including integration with the Central Securities Depository (CSD) and the Auditor General Office.
• Relevance: While DAD compiles data to meet various user needs, there is no systematic user survey to monitor relevance and user satisfaction. It is recommended that DAD conduct user surveys to assess the effectiveness of its publications.
• Other Quality Management: DAD adheres to the Code of Practice for Official Statistics, ensuring transparency in data sources and methods. However, there is a need to develop and promulgate its own code of conduct to guide staff in promoting integrity and professionalism.

Assurances of Integrity

• Professionalism: DAD staff operate independently and follow international standards, but additional training is needed to ensure continued adherence to these standards.
• Transparency: While DAD has autonomy, the terms and conditions for data collection, processing, and dissemination are not publicly available. Publishing these terms is recommended.
• Ethical Standards: Officials are aware of the importance of maintaining public credibility, but the specific code of conduct for civil servants is not well remembered. Developing a code of conduct for PSDS compilation and dissemination is advised.

Methodological Soundness

• Concepts and Definitions: Malawi's debt definitions align with GFSM 2014, recognizing only disbursed outstanding debt and recording guarantees as supplementary information.
• Scope: The current scope is limited to central government and central bank borrowing, excluding local governments and non-guaranteed debts of public entities. Expanding sector coverage is recommended.
• Classification / Sectorization: The classification of debt is not standardized, with domestic debt including elements of external debt. The mission recommends the use of internationally standardized tables for reporting.
• Time of Debt Recording, Valuation, and Consolidation: Debt is reported at face value and on a cash basis, which is not in line with international standards. The report recommends using nominal valuation and accrual basis, and including market value as a memorandum item.

Accuracy and Reliability

• Source Data: Source data for debt securities and external lending is robust, but network issues significantly hindered access to the CS Meridian system during the mission period. Resolving these issues is crucial.
• Assessment of Source Data: Validation of loan data is done against creditor records and flows, but guarantee data is not systematically included. Integration of guarantee data into CS Meridian is recommended.
• Statistical Techniques: On-lending is captured, but non-cash liabilities such as those from finance leases and public-private partnerships (PPPs) are not included. The materiality of these liabilities should be reviewed.
• Assessment and Validation of Statistical Outputs: Reconciliation tables are recommended for improving transparency and consistency in the compiled data.

Serviceability

• Periodicity and Timeliness: Quarterly reports were introduced in August 2024, but the timeliness has not been maintained. A release calendar should be established to ensure regular publication.
• Consistency with Other Publications: There are challenges in comparing data across different reports. Regular reviews and identification of discrepancies are advised.
• Revision Policy: DAD is encouraged to develop and implement a PSDS revision policy to inform users of potential revisions and their reasons.

Accessibility

• Clarity and Impartiality: PSDS reports include clear commentary, charts, and tables, aiding non-expert users. However, metadata is not easily accessible and lacks detail.
• Data Formats: Reports are currently only available in PDF format, limiting ease of use for experts. The mission recommends disseminating data through the IMF-World Bank Joint Quarterly Public Sector Debt (QPSD) database and Malawi's National Summary Data Page (NSDP), allowing for download in formats such as MS Excel.
• Standardized Tables: Including a core set of standard tables and graphics in every PSDS report is recommended to facilitate comparison and understanding.

Conclusion

Malawi's public sector debt statistics are broadly reliable and have shown improvement over time. However, there are areas that require attention to ensure continued quality, transparency, and accessibility. The mission emphasizes the need for legislative and institutional improvements, better data integration, enhanced training, and the adoption of standardized reporting formats and practices. These steps will help Malawi align more closely with international standards and improve the utility of its public debt data for both domestic and international stakeholders.