Bangko Sentral ng Pilipinas (BSP) announced that it has completed the upgrade of its external debt monitoring and analysis system by upgrading to the latest Debt Management and Financial Analysis System (DMFAS).
DMFAS is a database software developed by the United Nations Conference on Trade and Development that is used to record, monitor, report and analyze debt data that meets international standards and undergoes a rigorous set of checks to ensure record consistency.
The system is currently deployed by 105 finance ministries, central banks and other debt management units in 69 countries. DMFAS serves as the BSP’s main database for the production of comprehensive external debt statistics for operational and policy purposes, and for general dissemination to domestic and international stakeholders.
Its latest release, DMFAS 6, has enhanced security to ensure data integrity and confidentiality, as well as enhanced user experience and navigation. It also offers updated analytical and management tools for debt portfolio analysis and reporting.
The upgrade to DMFAS 6 is expected to improve and enhance BSP operations by using available DMFAS datasets to create pre-built and user-defined reports. In the future, BSP will continue its data-driven initiatives by expanding the coverage of the DMFAS database and analysis through possible integration with other sources of external debt data while fulfilling its mandate to manage external debt using the latest technologies.