FIJI’s PUBLIC DEBT Mandate to audit Public Debt Constitution Audit Act Finance Management Act 2004 Accounts and Records Borrowing Fund Account-St. of Receipts.

Slides:

Advertisements

Similar presentations

Review of the work performed by the Task Force Global Financial Crisis and its impact on a theme paper proposed by Canada Richard Domingue SAI – Canada.

Advertisements

Balance of Payments Contents Introduction Components of balance of Payments.

Malaysia’s Fiscal Policy Management

Developing a Deep and Liquid Bond Market - Experience of Sri Lanka Presentation by K.G.D.D.Dheerasinghe Assistant to the Governor Central Bank of Sri Lanka.

FIJI’s PUBLIC DEBT Mandate to audit Public Debt Section 152 – 2013 FIJI Constitution Section 6 of the Audit Act Section 46 and 47 of Financial Management.

 The Department of Finance is a government institution that formulates fiscal policy. Basic Function :  revenue generation to ensure adequate financing.

Ministry of Finance of the Republic of Kazakhstan Treasury Committee Topic: «Integration of External Financing in the Process of Budget, Accounting and.

BUDGET: A TECHNICAL INTRODUCTION. ANNUAL FINANCIAL STATEMENT: the core budget document, shows estimated receipts and disbursements by the Government of.

The Bank of Canada Objectives & Functions. The Bank of Canada The Bank is Canada’s central bank established in 1934 as a private enterprise but became.

Copyright ©2004, South-Western College Publishing International Economics By Robert J. Carbaugh 9th Edition Chapter 10: The Balance of Payments.

Carbaugh, Chap The Balance of Payments Balance of Payments  A record of international transactions between residents of one country and the rest.

The World Bank Public Financial Management: Good Practices Bill Dorotinsky Halong Bay, Vietnam October 9, 2003.

1 Financial analysis of social enterprises (NPO – CO-OP)

Chapter 7 Savings and Investment Process © 2000 John Wiley & Sons, Inc.

Financial Accountability for Nonprofit Organizations Thomas P. Holland, Ph.D. Professor, UGA Institute for Nonprofit Organizations.

Copyright  2003 Pearson Education Canada Inc. CHAPTER 19 Audit of the Capital Acquisition and Repayment Cycle.

AP Macro: Unit 7 “The Open Economy: International Trade and Finance”

The Main Audit Results of Ukraine’s System of Public Debt Management Accounting Chamber of Ukraine INTOSAI Public Debt Committee Meeting Lisbon, Portugal,

Audit of public debt in the Republic of Moldova and the impact of audit findings and recommendations on public debt management Court of Accounts of the.

Fast-disbursing Credit Auditing 1. In Mexico, the contracting and use of resources stemming from public debt transactions are ruled by the Political Constitution.

Chapter # 6 International Trade Prepared BY Kokab Manzoor.

 CAD + C and F account = 0 - $68b + $68b = 0 This occurs because Australia has a flexible exchange rate. For every debit transaction there is an equal.

The CASH FLOW Statement (Statement of changes in financial position) Text Chapter 18, Pages , Practice Questions: 1.BE18-1, BE18-2, BE18-3,

The Statement of Cash Flows Chapter 4 The Statement of Cash Flows Answers u u How Much Cash Was Provided by Operations u u What Amount of Property and.

©The McGraw-Hill Companies, Inc. 2006McGraw-Hill/Irwin Chapter Twelve Statement of Cash Flows.

FINANCIAL ACCOUNTING AND REPORTING OF DONOR FUNDED PROJECTS Zurab Tolordava February 2012.

Role of Financial Management Objectives Liquidity Profitability Efficiency Growth Return on Investment Strategic role To provide and manage the financial.

Chapter 12 Supplementary Notes. GNP = Expenditure on a Country’s Goods and Services Y = C d + I d + G d + EX = (C-C f ) + (I-I f ) + (G-G f ) + EX = C.

Insert Presentation Title Here Public Schools of Petoskey June 30, 2014 Audit Presentation.

Laredo ISD -> Restatement of Financial Statements according to GASB 34 What is GASB 34? New Accounting Standards adopted for Why do we need to.

Copyright 2010, The World Bank Group. All Rights Reserved. 1 GOVERNMENT FINANCE STATISTICS ANALYTIC FRAMEWORK Part 1 This lecture introduces the analytic.

Concepts of Fiscal policy. 2 of 38 Fiscal policy Fiscal policy refers to the policy of the government regarding Taxation (Revenue collection through taxes)

Lecture 28. Chapter 17 Understanding the Principles of Accounting.

Budgetary Deficit and Public Debt Public Economics Filip Hrůza.

Econ 102 Fall Fiscal Policy 1.Discretionary fiscal policy- 2. Automatic stabilizers.

How did the US financial sector get to this point? 1987 – Jan – Feb – May 1998 – Sept – Dec – 1999 – Mar – May 2000 –

BALANCE OF PAYMENTS AND PUBLIC DEBT

Central government in the planning of municipal revenues and controlling financial sustainability in municipalities Audit department 3, Vilnius division,

Dr.Mohamed Zaky Faculty of Economics and Political Sciences Cairo University.

1 PRESENATION TO THE PORTFOLIO COMMITTEE ON PUBLIC WORKS ON THE USAGE OF SECTION 32 REPORTS FOR OVERSIGHT PURPOSES by George Tembo National Treasury: Public.

Copyright ©2005, Thomson/South-Western International Economics By Robert J. Carbaugh 10th Edition Chapter 10: The Balance of Payments.

Financial Management Resource and Research Society November, 2014 Cash Management Reform The Way Forward in Central Government.

© The McGraw-Hill Companies, Inc., 2008 McGraw-Hill/Irwin Statement of Cash Flows Chapter Twelve.

1 Government Finance Statistics / IMF Statistics Department Overview of Changes from GFSM 1986 to GFSM 2001.

Investments 10/03/2014 FOLLOW THE MONEY. WHAT DO WE KNOW ABOUT...

Identifying the Objectives and Scope for Debt Management, MTDS: Step 1

Advantages of Local Borrowing

The Main Audit Results of Ukraine’s System of Public Debt Management

Budgetary Deficit and Public Debt

International Economics By Robert J. Carbaugh 9th Edition

Presentation to Mayor and Council For the year ended December 31, 2012

International Economics By Robert J. Carbaugh 7th Edition

Follow the money Investments 10/13/2017.

Fiji Public Debt Situation

STATEMENT OF CASH FLOWS

Cash Management and Capital Planning

How are BOP statistics used?

INTRODUCTION TO PUBLIC FINANCE MANAGEMENT

Audit Results & Financial Overview

How are BOP statistics used?

Managing Liquidity in the Treasury Single Account

Cornerstones of Financial Accounting, 3e.

Presentation of Audited Financial Statements June 30, 2011

Bulgaria – Evolution in the Development of the Medium-Term Budgetary Framework Zagreb, Croatia | May 2018.

Fiscal Sustainability

Budget Sustainability Policies in the Republic of Belarus

Treasury Performance Monitoring Republic of Armenia

Identifying the Objectives and Scope for Debt Management, MTDS: Step 1

ICAM CONFERENCE THE ROADS FUND K10 BILLION BOND STORY: AN INSIGHT

Accounting for Assets Cash Flows.

Presentation transcript:

FIJI’s PUBLIC DEBT Mandate to audit Public Debt Constitution Audit Act Finance Management Act 2004 Accounts and Records Borrowing Fund Account-St. of Receipts and Expenditure

1.Role of Fiji SAI Analyse the Borrowing Fund Account Examine Reported Public Debt Foreign and domestic components Changes in debt balances during the period Financial costs Components of internal control – authorization, initiating and recording transactions

Role of Fiji SAI contd. Verification of debt records Compliance Internal Controls Laws and Regulations Analyse the Borrowing Fund Account Areas of Public Debt Management examined- Contract terms and conditions of borrowings Service (interest, discounts, and expense) payment procedures Authorizations Revaluation of foreign loans Applications of resources from foreign lending agencies Regulatory requirements for granting government guarantees Contingent Liabilities

2.Composition of Outstanding Borrowings 2007

3.Borrowing in the Last Ten Years YearDomestic Bond $ % of Total Borrowing Treasury Bills $ % of Total Overseas Loan $ % of Total Borrowing Total $ 19981,016,273, ,790, ,557,713191,305,621, ,046,595, ,231, ,036,450151,369,863, ,158,595, ,449, ,697,167141,438,742, ,302,595, ,604, ,889,315121,686,089, ,501,095, ,432, ,505,879101,891,033, ,682,718, ,925, ,125,75282,133,770, ,986,515, ,987, ,665,37972,282,168, ,121,422, ,018, ,050,92472,421,491, ,300,672, ,311, ,729,200152,858,713, ,196,208, ,160, ,103,384152,734,471,967

3.1Govt. Borrowings Outstanding From

4.Deficit to be Financed from Borrowings 2006 $348,146, $306,858,903

5.Overseas Loan Raised in 2007 Yearly Overseas Borrowings

5.1Composition of Outstanding Overseas Loans 2007 Composition

6.Treasury Bills Raised Composition of Treasury Bills

7.Flexibility – Interest Bite Percentage of Debt Repayments to Total Revenue

8.Vulnerability Measures the degree of dependence of Government on sources of Borrowing outside its control. One of the measures is the comparison of overseas loan to the total debt.

8.1Overseas Loan Percentage to Total Government Debt Trend

9.Sustainability Government Borrowing as a % of GDP

10.Summary & Conclusion Total debt outstanding decreased by $124m or 5% in 2007 compared to The Deficit to be financed from Borrowing also decreased by $41.3m or 12% compared to 2006 Overseas loans raised in 2007 also saw a decrease of $19.6m o5 5% compared to that of 2006, and The decrease of 4% in the Public debt ratio as a % of GDP indicates a favorable sustainability in debt.

Thank You Questions if Any!!!