UNCTAD's Debt Management and Financial Analysis System (DMFAS

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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
Page 3 and 4: DMFAS main menu follows the typical
Page 5 and 6: III. Detailed description of DMFAS
Page 7 and 8: • Funds related to revolving cred
Page 9: different tranches may or may not h
Page 13 and 14: D. Reporting functionAll the data r
Page 15 and 16: 3. Categories of reportsReports ava
Page 17 and 18: Once the user has created a report,
Page 19 and 20: IV. Technical characteristicsA. Fle
Page 21: In addition to the basic training o

UNCTAD's Debt Management and Financial Analysis System (DMFAS

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