UNCTAD's Debt Management and Financial Analysis System (DMFAS

DMFAS main menu follows the typical operational life cycle of a debt instrument.Loan negotiation,Signature of loancontractLOAN LIFE CYCLEREPORTINGANALYSISContract informationandloan termsReal drawingsPayment ofprincipal andinterestReporting on thecountry's debtDebt StrategyDMFAS MAIN MENUAdministrationMobilizeServiceReportAnalysisThe debt and other instruments details are registered in the Administration section and,based on the contract information, amortization tables are calculated and initial drawingestimates made.The Administration section also contains a Reference files menu where the user entersinformation on daily exchange rates, variable interest rates, commercial interest referencerates, budget line identification numbers, etc. as well as creditors/debtors and otherparticipants to the agreements.As disbursements or subscriptions take place, these will be registered into the Mobilizesection of DMFAS. This section may also, upon the user’s request, be programmed to printdrawing requests automatically. Thereafter, all transactions related to the servicing of debtinstruments, including operations on arrears, penalty interest, rescheduling, swaps, etc., arerecorded in the Service section. The service section contains links to budget lines. Theautomatic registry of operations function enables the user to create blocks of payments,arrears, rescheduled arrears or write-offs for a given subset of debt instruments.To ensure consistency among data for a particular debt instrument, DMFAS executes anumber of automatic controls. Users can also produce different validation reports to checkthe data, using the user-defined report facilities in the Report section of DMFAS. Debtmanagers can also produce a large number of reports for monitoring purposes, usingDMFAS Report facilities.3

After data validation, the database should contain reliable information that debt officers canuse for their reporting needs. DMFAS Report section meets both the internal and externalreporting needs of debt officers. For example, DMFAS supports the production of Forms 1and 2 of the Debtor Reporting System (DRS) that the World Bank requires from itsborrowing countries. DMFAS is also capable of generating a wide range of standard andcustomized reports, and data can be transferred easily to Excel and in HTML format.Once the database has been loaded with information from loan, bond and grant contracts,DMFAS becomes a very powerful tool. As the software processes huge amounts ofinformation on a debt, more time and energy can be deployed on analytical tasks. TheAnalysis section enable debt managers to calculate projections based on outstanding and ontotal commitment as well as present values of future debt service obligations. They canquickly analyze the impact on the country’s overall future debt burden resulting fromhypothetical changes in financial markets. DMFAS makes debt service calculations showinghow the total of debt service obligations would be affected by taking on a proposed loan, andprojects the impact of borrowing decisions of various entities on a country’s global debtprofile. The DMFAS installation package also includes the World Bank’s DebtSustainability Model (DSM+) which lets debt managers perform further sophisticatedmacro-economic and balance-of-payment analysis.4

III. Detailed description of DMFAS 5.3 FunctionsA. Recording function1. Types of agreements that can be registered in DMFASDMFAS 5.3 has facilities to register the following types of agreements:Loans. The software can record all loan-typecontracts, including revolving credits and syndicatedloans. It also facilitates the registration ofloans with common characteristics granted tolocal governments or other subnational entities.DMFAS can store quantitative information (suchas financial terms) and qualitative information(such as notes for specific comments ormemorandum items, like the type of legal clausesin the contract).Bonds. The term “bond” is used by DMFAS inits generic sense to cover government “papers”, promissory notes, treasury bills, notes, bonds, – eurobondsthat is, short-, medium- and long-term obligations. The bonds module is designed to handle typical bondconcepts such as yields, discounts, average price, capitalized interest, as well as bi-monthly and weeklypayments.Grants. The module for registration of grants contains the same facilities as the loans module, except forrepayment conditions.Projects. This facility permit easy identification of individual projects and their relationship to debtinstruments and grants financing them, as well as the individual disbursements related to them.On-lent loans. The software can record on-lent loans and their relationship with the original loan.General agreements. The facility permits the user to register frame agreements which are linked to severalindividual credits (and/or grants) and to link these agreements to the individual loans or grants arising fromthem.Reorganization agreements. DMFAS can link bilateral loans with the relevant “Agreed Minutes” and isdesigned to provide supporting data for reorganization negotiations (particularly for Paris Clubnegotiations), to facilitate recording of the reorganized terms received, and to facilitate identification andreporting of reorganized transactions.2. How is this information registered into DMFAS?DMFAS captures financial terms of individual credits as specified in each loan or bond contract. Thecharacteristics to be entered include, among others, principal terms, interest terms and commission terms.On the basis of this information, the system automatically calculates estimated disbursements andamortization tables.Loan (or bond) information is entered on three levels, General information, Tranches (or Series forbonds) and Commissions, in the Administration section. Each loan/bond has one general information5

section and at least one tranche/series section. Nevertheless, before registering any agreement, basicinformation needs first to be entered in DMFAS reference files.The Loans moduleGeneral InformationTranchesCommissionsEstimated Drawings Principal Terms Interest TermsAmortization TableThe Bonds moduleGeneral InformationSeriesCommissionsEstimatedSubscriptionsPrincipal TermsInterest TermsAmortization TableReference filesReference files contain detailed information which can berefer to from many DMFAS modules. They include bothessential and optional data about:• The Participants (debtors, creditors, etc.) in thedifferent agreements. The system requires theavailability of a set of information on each one of theparticipants (for example, institution type, country ofresidence, contact data, etc.).• Participants’ Bank accounts, which can be useful whenpreparing banking transactions.• Daily Exchange rates. These rates are used by DMFAS in calculations such as real drawings and debtservice operations. Scripts are available for downloading the official exchange rates published in anumber of websites on a daily basis.• Common interest rates, which are floating interest rates that DMFAS uses for interest calculations inother modules. They can also be used for projection purposes.• Commercial interest reference rates (CIRRs), used for present value calculations. CIRRs arepublished by the OECD.• Euro National Currency Units exchange rates, so that DMFAS can convert operations from nationalcurrency units to euros.• Historical Exchange Rates, for Asian Development Fund loans.• Interest rate groups and Maturity groups. The user to customize the range of these loan attributes forselection and sorting needs.6

• Funds related to revolving credit and local government debt.• Budget lines, which are useful in the disbursement and debt-servicing processes, as required. In otherwords, budget lines refer to the budget account numbers that are used to service the different debtinstruments.General informationFor any loan agreement, it is necessary to fill in the GeneralInformation window where all the basic information about theagreement, such as different references, the signature date and theavailability date, is recorded. The loan’s tranche structure andparticipants (borrowers, lenders, guarantors, beneficiaries, etc.) are alsodefined at this level.The loan’s general information is summarized in the Loan Information Sheet.DMFAS 5.3 incorporates a classification and coding system which is compliant with new requirements inthe field of debt statistics as well as with internationally accepted standards. Some of the codes used for theclassification of debt instruments are selected in the General Information window, for example, the debtsource, the public guarantee, the debtor category, lender category, etc.7

Among the immediate benefits, the new classification and coding system gives the debt officer the ability toproduce reports that adhere to World Bank standards and the IMF’s General Data Dissemination Standards(GDDS) and which are in accordance with the IMF’s External Debt Statistics: Guide for Compilers andUsers.Furthermore, the loan module has facilities for:• Recording secondary market shares and share movements for syndicated loans in order to report theexposure of each member of the syndicate at a given point in time;• Maintaining records of amendments to loan agreements;• Maintaining records of the loan status throughout the lifetime of the loan (active, fully paid, cancelled,written-off, etc.);• Recording currency pool loans (World Bank and regional development bank loans); linking loans tospecific agreed minutes, general agreements, projects and budget lines;• Recording customized information through user-defined fields. These fields allow the debt officers tocater to country-specific loan details that can then be used as selection and sorting criteria whengenerating reports.The bond module is similar to the loan module: all the basicinformation such as the different references, the issue date and theissue end date is recorded in the General Information window. Thebond’s series structure and participants (issuer, subscribers, guarantors,beneficiaries, etc.) are also defined at this level.From the point of view of debt, bonds are debt securities with an original maturity of over one year. Theyare usually traded in organized financial instrument markets. Bonds usually give the holder an unconditionalright to money income that is either fixed or variable and determined contractually. Except for perpetualbonds, bonds also provide the holder with an unconditional right to a fixed sum as repayment of principal ona specified date or dates. In DMFAS the term “bond” is used as a generic term covering government“papers”, promissory notes, treasury bills, notes, bonds or eurobonds; that is, short-, medium- and long-termobligations.Tranche informationWhat is a tranche?In a loan, a tranche is a set of disbursements, the repayment of which is under its own specific financialterms. Tranches represent the distinct parts of a loan as defined by the creditor in the detailed paymentschedules sent to the debtor.In DMFAS a “tranche” is defined as an autonomous entity with its own currency, drawings, principalpayment schedule and interest terms: each tranche has its own amortization table. Furthermore, a tranchecan have its own participants. Using this information, DMFAS automatically calculates amortization tables.What are they used for?Tranches allow more accurate recording of loans in several currencies and with several interest rates.Multilateral borrowing, for instance, often has several currency tranches under the same credit. These8

different tranches may or may not have the same rate of interest. Each currency will therefore be registeredas a separate tranche with its own amortization schedule.DMFAS captures specific floating interest rates for the tranches. These rates are either entered into thecommon exchange rate file for the entire debt portfolio in the system or they are entered as characteristics ofa loan tranche. Because different creditors may be using different interest rates for the same currency on thesame date, DMFAS allows you to record creditor-specific interest rates.Tranche management optionsDMFAS offers three different options for managing tranches manually or automatically:• One tranche only• Unknown number of tranches• Multiple known tranches“One tranche only” is the most frequently used option for managing tranches since most loans contain onlyone tranche in which drawings and repayments are always expressed in the loan currency.Example of a Tranche Information Sheet which summarizes all the information registered at the tranche levelSeries informationIn DMFAS the concept of “series” is similar to the one of tranche: it is an autonomous entity with its ownprincipal repayment schedule, its own currency and its own interest terms. More precisely, a series is agroup of certificates of indebtedness belonging to the same bond and sharing the same attributes andrepayment conditions. In addition, it may have its own participants.9

Example of a Series Information Sheet which summarizes all the information registered at the series levelCommission informationFinally, loan/bond commissions and fees are recorded in a separate window since you can enter thisinformation at both the loan/bond and tranche/series levels.B. Operating functionDMFAS records all types of individual transactions: drawings, also called disbursements, (registered inthe Mobilize section) and repayments of principal, payment of interest and commissions, etc. (registered inthe Service section).1. Mobilization of fundsThe section Mobilize is for registering drawings and subscriptions.DMFAS can handle drawings in the same (or different) currency as that ofthe tranche and registers the equivalent value in the loan currency, in thetranche currency, and in the local currency as well as in the euro andU.S.dollar. For validation all the figures are checked for consistency against10

the exchange rates registered in the corresponding files. A drawing can also be related to a project or aprogram allocation.A feature in DMFAS allows to update or roll forward estimated drawings up to a date specified by the user:the Roll forward estimated drawings facility. This feature improves projections by eliminating estimateddrawings scheduled prior to this date.2. Debt serviceThe Debt service operations are handled in the Servicesection. There is an option dealing with principal andinterest and two other options for commissions andpenalty interest. All debt service operations can beentered and/or followed in various currencies: local,tranche, loan, effective, euro, U.S. dollar and SDR.The main functionalities of the Service section are the following:• The debt-service operations are ordered by scheduled date, and the field status informs the user of thecurrent stage in the servicing process for the maturity concerned (scheduled, waiting, in arrear, paid,written-off, rescheduled, etc.).• The generation of the list of debt service maturities is based on the amortization table. The user willcheck this list and take appropriate action for maturities with a waiting status (those for which apayment is due): this means recording a payment, a rescheduling, a write-off, a swap or confirming theexistence of an arrear. DMFAS also offers a utility for the automatic recording of debt serviceoperations, like payments, arrears or rescheduled arrears and write-offs, for a given set of loans orbonds.• The accumulation of arrears may lead to the accumulation of a stock of Penalty interest due to differentcreditors. DMFAS can generate reports displaying the details of penalty interest for each arrear andhandles payment, rescheduling and written-off operations on penalty interest.• This section is also where Budget period allocations are registered. The system allows entry of budgetallocations for comparison with actual payments. The user defines the budget periods and loads thebudget line identifications and the allocation to each budget line. The allocation is then linked totranches and individual transactions, so that DMFAS automatically monitors the allocation against theaccumulated amount of actual transactions during the specified budget period. A warning is issued if thesum of actual transactions exceeds the allocation. Therefore, the budgeting of payments may bemonitored on loans’ or bonds’ interest, principal and commissions, and can easily be adjusted to theneeds of individual countries.• The Adjustment factors used in some of the currency pool loans from multilateral institutions areregistered here.11

• The Payment order, a country-specific facility, can also be either printed or electronically transmittedfrom this option. If there is a linkage with a budget system, the payment order can be processed throughthe corresponding budget allocations.3. Historical dataA public debt software should be able to show and calculate historical data. Loading the information aboutthe individual transactions in order to fulfill this requirement can be very tedious and, in some cases, anoverwhelming task. DMFAS, in order to overcome this problem, permits the user to load balances on aloan-by-loan and tranche-by ranche basis at a given date (the user-defined DMFAS cut-off date).The Historical amount balances will include total principal repaid, total interest paid, etc., at the cut-offdate. This will allow the system to calculate, at any date after the cut-off date, stocks and flows at any levelof aggregation.C. Controlling and monitoring functionsThe first controlling function is on the data accuracy and data validation. Once data is entered, it will beupdated regularly or deleted, as the case may be. To ensure consistency among data for a particular debtinstrument, a certain number of controls have been incorporated in the system. By means of a number oferror messages, the user will correct and validate data. The user may also produce different reports tocheck the data for correctness.The software can also produce a large number of reports for the purpose of control and monitoring the debtmanagementoperations. For example, DMFAS enables debt officers to:• Produce reports of payments falling due in the next month, in order to pay them on time;• Produce reports where loans are selected by economic sector, type of creditor, financing type, etc., thatcan be used for controlling ceilings on outstanding debt or debt servicing;• To identify loans where debt service is in arrears and calculate penalty payments.12

D. Reporting functionAll the data recorded in DMFAS is ultimately aimed at producing reports that are accurate, complete andcompliant with standards. To this end, DMFAS offers extensive features that simplify debt officers’reporting tasks. DMFAS reports are multi-purpose in that they address three categories of user needs:internal, external and control.• Internal: debt officers need to produce reports about debt in the specific formats required by nationalauthorities and other related users.• External: debt officers need to produce reports in the specific formats required by internationalorganizations and that adhere to an international standardization of statistics.• Control: DMFAS users need to produce reports for the purposes of data validation (see previoussection).1. Reports available in DMFASReports are created from DMFAS Report section which is divided into two parts: DMFAS StandardReports and User-defined Reports.DMFAS Standard Reports are predefined reports delivered with the system. These are reports that havealready been created by the central team of the Debt Management – DMFAS Programme.User-defined Reports are reports created and generated by the DMFAS users in any given country. A userdefinedreport can be based on a DMFAS standard report. This means that users can copy a DMFASstandard report and then modify it.The levels for DMFAS Standard Reports are illustrated below.Standard ReportsOperational ReportsAnalytical & Management Reports13

Operational Reports include reports on loans, bonds, projects, general agreements, grants and referencefiles. For example, for loan instruments users can produce a loan information sheet, a loan accountstatement, an amortization table and so on. These reports can be generated whenever users need to checkthat they have recorded all data correctly for a debt instrument.Among these reports are the control reports, also known as Data Validation reports. These are predefinedreports, developed by the central team of the Debt Management – DMFAS Programme. Generated in OracleBrowser, these reports allow users to check the accuracy and consistency of the data recorded.Analytical & Management Reports consist of reports on debt status, the statistical bulletin, reorganization,World Bank reporting, and general agreements involving revolving credit. A number of standard reports arealready available in the DMFAS libraries delivered with the system: 8 in the debt status library and 61 in thestatistical bulletin library.Some of the reports available in the DMFAS Statistical Bulletin library.The World Bank Reporting option lets users generate Forms 1 and 2 of the Debtor Reporting System (DRS)and send them electronically to the World Bank.2. Libraries of reportsDMFAS offers libraries for use with reports. These libraries are secure repositories in which users can storereports for future use. The libraries available in DMFAS are specialized. There are thus libraries for reportsrelating to data validation, debt status, the statistical bulletin and reorganization/data validation.Some of these libraries are delivered with the system; they are made up of DMFAS standard reports. Otherlibraries have already been named but are empty: users can fill them in by creating their own reports throughuser-defined reports.14

3. Categories of reportsReports available in DMFAS fall into these categories:• Predefined reports without parameters• Predefined reports with parameters• User-defined reportsPredefined reports without parametersThese reports are “hard-coded” which means that the user cannot change their format in any way. Theseoperational reports display all the data available relating to one or more selected debt instruments.Therefore, no parameters are required. The Amortization table is one example of this type of report.Predefined reports with parametersThe format for these reports is also hard-coded and they display all the data available relating to one or moreselected debt instruments. However, as they may contain large volumes of data, the user must specify one orseveral parameters. The parameters can be the report period to be covered, the calculation date, the reportcurrency, etc.User-defined reportsWith user-defined reports, the user can design its own reports by entering specific parameters. He can selectfrom a wide range of debt totals or aggregates relating to debt operations (stocks or flows) such as drawings,debt service operations, etc.; projections, for example on drawings and the debt service; the debtoutstanding; present value; accrued interest; commitments; and penalty interest. The user can also combineaggregates with general information on debt instruments, for example the creditor name, the signature date,etc.There are two ways of creating user-defined reports, both of which entail use of Oracle Browser or QueryBuilder. The DMFAS application is built on top of an Oracle database that stores all the debt-related datayou recorded.Within DMFAS, the user can therefore use applications such as Oracle Browser (or Query Builder) tosearch for data recorded in this database. An advanced user can even work with Oracle Browser directly.USERDMFASOracle Browser/Query Builder(LOAN_TRANCHES andGRANTS views)ADVANCED USEROracle Browser/Query Builder(all tables and views)Data recorded in DMFAS is organized into tables and views such as, for example, LOAN_TRANCHES,Participants, Projects, disbursements and debt service operations. Over 250 tables exist in DMFAS.While creating user-defined reports with DMFAS, the views the user can work with in Browser includeLOAN_TRANCHES (for loans and bonds) and the GRANTS views as well as two specific views for syndicatedloans. When creating reports with Oracle Browser/Query Builder, the user can use all views and tables.15

4. More on user-defined reports…To create a user-defined report, the user will first define a set of parameters, such as such as the currency,the level of aggregation and the period:• Reports can be produced in local currency, tranche currency, U.S. dollar, euros, SDRs or even in variouscurrencies.• They can be expressed in units, thousands or millions.• Four formats are available for generating user-defined reports. These formats determine the position ofaggregates and sub-periods in the rows and columns of the report. For certain formats, the report cancontain up to 12 columns as well as express the value of a given column as a percentage of the entirecolumn.User-defined ReportsMain windowBasic information about the report: name, title, currency, etc.Sub-windowsFormat PeriodicityAggregatesPeriodsSubtotalsOracle Browseror Query BuilderData setsThen, among the 15 types of aggregates available, the user will select the type of aggregate and the relateddebt totals required to produce the desired report.16

Once the user has created a report, it is stored by DMFAS so that the user can retrieve it in order to print itout with the original or new data, as well as to modify its format if needed. Below is an example of aprojection report generated in DMFAS.5. Exporting reports to ExcelThe user can export the user-defined reports created as ASCII files in DMFAS to Microsoft Excel. Theexported report files preserve their original formatting. In Excel the user can then benefit from the widerangeof formatting and layout features available in the application.17

E. Analytical function1. Projections based on outstanding and present value calculationsThe analysis module has been specifically designed to calculate projections based on outstanding, and thepresent value amount using CIRRs as the rates of discount, of a debt portfolio.Because debt indicators based on the nominal value of a debt are static, they may not exactly reflect acountry’s underlying solvency. Unlike nominal value, present value takes into account the terms and theconcessionality of a debt portfolio while reflecting the costs of servicing it in “today’s money”. Debtindicators based on present value are a more appropriate measure to apprehend a country’s solvency and itsdebt servicing situation. Present value allows debt officers to more easily compare debt portfolios betweencreditors by eliminating the effects of concessionality.The module on projections based on outstanding is useful when the user needs to calculate:• The amount of interest due in the near future (for example, the amount of interest to be paid in the nextmonth), the cash flow needs of the central bank; etc.• Future debt service payments for a loan in which he foresees a cancellation of the undisbursed amount.• A debt’s present value for the purposes of analysis such as in the framework of the HIPC initiative.This module enables the user to choose between different parameters and calculation methods (the pro-rataand the truncation methods) of particular interest to produce and compare different scenarios for the debtsustainabilityanalysis of HIPC.2. Interface with the Debt Sustainability Model (DSM+)of the World BankAn interface has been created between DMFAS and DSM+, which is a tool designed to help officialsanalyze the external financing requirements of a country and to quantify the effects of debt-relief operationsor new borrowing. This interface provides the DMFAS user with the means to export data from the DMFASsystem for subsequent import into DSM+.3. Other analytical featuresDMFAS system also provides analytical support for debt managers by, for example:• Facilitating easy registration of potential new debt and analyzing the effect of these new debts on thefuture debt-service pattern;• Permitting easy simulations to determine the effect of interest rate fluctuations and exchange ratevariations over a period of time;• Calculating and giving information on detailed penalty interest from the scheduled date of a maturityregistered as an arrear to a given date; and• Calculating accrued interest. DMFAS allows debt officers to generate automatically such information,at the end of the previous month, for use by other departments, including the accounting unit.18

IV. Technical characteristicsA. Flexible interface1. Language flexibilityDMFAS is language independent. This means that its textual components (such as messages or menunames) have been externalized from the system itself.DMFAS 5.3 is available in Arabic, English, French, Russian and Spanish. At any time during a DMFASsession, the user can easily switch from one language to another. This feature is particularly important forcountries operating the system in languages that they cannot use for reporting to the World Bank and otherinternational organizations or creditors. For example, an institution working in a Russian-speakingenvironment can work with DMFAS in Russian and yet switch to English for reporting to the World Bank.2. Facilities for translating interface elementsDMFAS allows an institution to modify the translation of interface elements so that they suit theterminology used in the country or institution. These elements include labels, field messages and lists ofvalues.In addition, the code file of the system is divided into standard and user-defined codes. This allows countryspecific customization of codes, such as Location, Economic Sector codes, etc.3. User-defined fieldsDMFAS windows provide user-defined fields, i.e. fields that can be customized according to theinstitution’s needs. They offer greater flexibility for customizing a DMFAS installation. DMFAS providesthree types of user-defined fields: user codes, user fields and user dates.B. Support to other information systemsDMFAS 5.3 can be linked with other softwares. It may therefore provide debt data for other informationsystems, such as those dealing with balance of payments, budget, public and/or central bank accounting,government revenue and expenditure, currency management, etc.C. SecurityToday more than ever, security is one of the most critical issues faced by all information systems throughoutthe world. Most organizations have already undertaken significant measures to protect the confidentiality oftheir databases and control access to sensitive data.DMFAS security feature addresses these vital concerns by offering a safe and secure framework for acountry’s data. Yet another advantage of this feature is that it clearly organizes the responsibilities and roles19

of DMFAS users. For any user or user group, the manager can determine the access rights that areappropriate and subsequently expand or restrict them according to its institution’s needs. For example, amanager can assign loans, bonds and grants exclusively to individual users or groups. In addition, a newfeature for password management has been introduced.D. Latest Oracle technology: Oracle 10GDMFAS 5.3 supports Oracle 9i and 10G, which is the latest RDBMS released by Oracle. Among the manyfeatures it offers are:• the ability to run a single database on a cluster of servers• new technology to reduce downtime thus allowing maintenance procedures on online databases• facilities to reduce disk fragmentation and improve applications performance• tools to define both e-mails and pager alerts for common database events•E. DMFAS HelpdeskThe DMFAS helpdesk offers extensive support in the use of DMFAS. The helpdesk provides timely andreliable advice and assistance on a wide range of functional and technical issues in response to any issueusers may have.V. Documentation and TrainingA comprehensive set of documentation is available for DMFAS 5.3. It includes:• A comprehensive User’s Guide, with its supplements and updates;• A basic tutorial “Introduction to DMFAS” and an advanced tutorial on how to register an AsianDevelopment Fund loan in DMFAS.• A Debt and DMFAS Glossary;• A Database Administrator’s Manual; and• An Installation Guide (for Oracle 8i, 9i and 10G).20

In addition to the basic training on debt, the Debt Management - DMFAS Programme offers the followingtraining modules relating to DMFAS:ModuleDMFAS 5.3Data validationDebt statisticsseminarDebt sustainabilityworkshopDescriptionCovers new features such as bonds, reorganization, the newclassification and coding system, AsDF loans, local government debtand revolving credit. It can last from 5 to 10 days.Provides techniques for data control. It is aimed at debt managersseeking to set up quality control procedures for use with databases andreports.Explains how to compile and analyze international debt statistics andhow to report them to international organizations.Teaches the concepts for achieving and measuring a debt sustainabilityanalysis. It explains how to export debt data from DMFAS to DSM+ andthen use DSM+ to analyze the debt portfolio for its sustainability.21