This tool, the PDMAT 2.0, offers an enhanced framework for evaluating parliamentary oversight in public debt management, aligning with international
standards to address the evolving demands of fiscal responsibility. It emphasises transparency, fiscal risk management, public participation, and executive accountability, empowering parliaments to promote sustainable debt practices that reflect citizen priorities.

The debt transparency dimension focuses on comprehensive reporting by ensuring public access to the debt management strategy (DMS), frequent
publication of information on the debt stock and composition, and thorough coverage of both internal and external debt. 

The legislative role dimension underscores parliament’s responsibility in establishing a legal foundation for borrowing and accountability, emphasising clear authorisation, mandated reporting, and oversight of public sector debt.

The ratification of loan agreements dimension enhances assesses on external borrowing by requiring parliamentary scrutiny and ensuring the executive performs due diligence in loan negotiations.

The parliamentary role in the budget cycle dimension emphasises parliamentary involvement at all budget stages, from prebudget debates to year-end compliance reviews, supporting informed fiscal planning.

To manage potential liabilities, the fiscal risk management dimension introduces indicators for identifying and addressing contingent liabilities from SOEs and SNGs, along with regular fiscal risk reporting.

The PDMAT 2.0 also promotes inclusivity through the public hearings and citizen engagement dimension, assessing mechanisms for citizen and CSO input at key budget stages to ensure debt oversight is transparent, participatory, and aligned with public interests.

The integrated technical support and external partnerships dimension evaluates the roles of PBOs and external partnerships, such as with CSOs, to bolster legislative oversight. The executive capacity dimension assesses the executive branch’s effectiveness in managing public debt, with an emphasis on centralised debt operations and robust risk management.

Lastly, the external audit dimension supports independent audits by SAIs PDMAT 2.0 enhances parliaments’ ability to oversee public debt management, aligning oversight with global best practices to foster accountability, transparency, and fiscal responsibility. 

This comprehensive framework addresses essential oversight gaps, enabling parliaments to mitigate debt risks and strengthen sustainable public finance
management.

A guide to using PDMAT 2.0 is also available.