GEDI: The new Italian public debt management system that also includes the monitoring of the debt of local and regional authorities
Within the 'Empowered, digital & Open platform for Public Debt Management' public finance ecosystem, the programme for the development of the public debt management system aims at ensuring a greater efficiency of the entire monitoring process and fostering a collaborative approach focused on the sharing of data and information, according to a transversal logic. Specifically, the actions implemented by the Department of the Treasury of the MEF, aimed at improving the system, have pursued three fundamental targets:
– equipping the Department with tools ensuring the quality of the data in the system and its processing, thus guaranteeing its monitoring, validation and consolidation;
– improving the exchange of data, communications and documents with other institutions and administrations through technological solutions promoting collaboration;
The GEDI platform has been implemented in pursuit of these targets, thereby replacing several vertical applications for domestic and foreign public debt management such as GEDDEP, Sistema Previsionale, GPO, MTS, and Valutazione Specialisti, as well as the CEAM (Comunicazioni degli Enti locali e territoriali per il monitoraggio dell’indebitamento e l’accesso al mercato dei capitali – Local and Territorial Authorities' Communications for Debt Monitoring and Access to Capital Markets) system.
The new GEDI platform enhances the features of the previous applications and brings together the operations of individual offices, thus guaranteeing greater collaboration among users, thanks also to the sharing of data sources.
The innovations introduced with GEDI include:
–the adoption of the Java programming language for the management of the application components;
–the integration with the authentication and authorisation system of the DT portal for greater security and integration with enterprise solutions;
–new mathematical models for calculating the optimal portfolio mix in risk and cost management.
With its functional set-up, GEDI has enabled the MEF to considerably broaden the database processed, as it can now also monitor the debt contracted by Local Administrations, in order to have an overall view of the economic-financial trends and debt exposures of Public Administrations, without limiting it to central Administrations.
Indeed, thanks to GEDI, individual Administrations can directly input and update the descriptive data of the liabilities that compose the stock of debt of the Local Administrations, thereby allowing public debt managers of the Department of the Treasury to constantly monitor the exposures through a real-time, reliable and accurate scenario.
The expansion of the Public Debt monitoring and management system shows that the application of innovative solutions centred on Digital Transformation can not only improve analytical capabilities, but above all verify in real time the health of local community resources, which has a significant impact on the quality of life of millions of citizens. In short, having a more 'intelligent', powerful integrated monitoring and management system is an essential added value for the Italian public debt management process and a very useful tool when it comes to recovering from the health crisis and using PNRR funds.