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The Commonwealth Secretariat's Debt Recording and Management System has played a vital role in improving Papua New Guinea's debt management practice.

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Mr Gibson Gotaha
Assistant Secretary, Department of Treasury, Finance Management Division, Papua New Guinea

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04/03/16
The Commonwealth Secretariat announces the release of CS-DRMS Version 2 Service Pack 2 (v2SP2)


In line with its efforts to bring continuous improvement to the CS-DRMS software, the Commonwealth Secretariat announces the release of CS-DRMS Version 2 Service Pack 2 (v2SP2).

The debt management programme of the Commonwealth Secretariat supports strengthening of public debt management operations in its member countries through policy advice, debt management systems and capacity building initiatives. CS-DRMS, which is offered as part of the programme, adopts a holistic approach through the extensive coverage of various types and categories of debt liabilities and debt related financial instruments for sovereign as well as sub-national governments.

 

CS-DRMS Version 2 was released in August 2014 and represented a significant upgrade over its previous version released in 2010. It had a wide range of enhancements provided to better support public debt management operations in client countries. Subsequently, a service pack 1 (SP1) was released in December 2014 to enhance the management of securities and improve the reporting capability of the system.

 

The new version, CS-DRMS v2SP2, brings further improvements to the software through the addition of new functions while at the same time addressing certain bugs identified by client countries.

 

The functional side of the software has been enriched through the following new features now available in CS-DRMS:

- Enhancements to existing functionality of Liability Management Operations (LMO) with addition of an option for 'Prepayment' that enables countries to record a prepayment of their remaining obligation in full or partially. The software also includes an option for Accelerated Repayment.

 

- A facility to record loans which are interest-free, for part or whole of their life.

 

- Management Tools module now includes enhanced Sensitivity Analysis to assist debt managers make more informed decisions.

 

- The Dashboard, which was released with CS-DRMS Version 2, has also been enhanced to improve data precision when reporting figures on its various summaries.

 

- Standard reporting has been enhanced with specific changes to certain reports. Some of these changes bring specific reports more in line with the reporting requirements of the External Debt Statistics: Guide for Compilers and Users.

 

- The revised QEDS/GDDS Data Export template introduced by the World Bank is now incorporated in CS-DRMS.

 

- The software supports the new World Bank Debtor Reporting System (DRS) SDMX purpose codes, in line with the System of National Accounts (SNA) codes.

 

CS-DRMS continues to be free of charge to Commonwealth member countries and is available to non-member countries at a modest price.

 

The release notes for this version can be downloaded here. These notes give a more detailed picture of the enhancements brought to the software, the bug fixes and the hardware and software infrastructure to optimally operate this new version.