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Table of Contents
List of Figures .........................................................................................................................................................iii
List of Tables........................................................................................................................................................... vi
List of Acronyms...................................................................................................................................................vii
Executive Summary............................................................................................................................................... 1
1 Introduction ................................................................................................................................................... 9 1.1 Definition of Public Debt Management........................................................................................................9
1.2 Performance Indicators and Best Practices ........................................................................................... 10
2 Global Practices in Public Debt Management .................................................................................. 9 2.1 Descriptive Statistics and Performance Indicators............................................................................. 192.1.1 Public Debt Dynamics......................................................................................................................... 19
2.1.2 Government Budgets .......................................................................................................................... 22
2.1.3 Debt Structures...................................................................................................................................... 24
2.2 Institutional Frameworks............................................................................................................................... 33
2.3 Lessons Learned and Relevance for OIC Member Countries.......................................................... 37
2.4 Survey Results ..................................................................................................................................................... 38
3 Public Debt Management in the OIC Member Countries..............................................................44 3.1 Descriptive Statistics and Performance Indicators............................................................................. 443.1.1 Public Debt Dynamics......................................................................................................................... 44
3.1.2 Government Budgets .......................................................................................................................... 46
3.1.3 Debt Structures...................................................................................................................................... 49
3.2 Institutional Frameworks............................................................................................................................... 56
3.3 Islamic Finance in Public Debt Management ......................................................................................... 583.3.1 Islamic Finance...................................................................................................................................... 58
3.3.2 Islamic Bonds ......................................................................................................................................... 61
3.4 Lessons Learned ................................................................................................................................................. 66
4 Public Debt Manag ment in Individual OIC Member Countries................................................ 9 4.1 Case Studies .......................................................................................................................................................... 704.1.1 Islamic Republic of The Gambia..................................................................................................... 70
4.1.2 Republic of Mozambique................................................................................................................... 77
4.1.3 Republic of Togo ................................................................................................................................... 84