DEBT MANAGEMENT UNIT
HEADED BY: MR. KERRY PIERRE
The main objective of the Debt Management Unit is: “Ensuring that the financing needs of the Government are met on a timely basis and that its debt service obligations are met at the lowest cost over the medium-to-long term, in a manner that is consistent with an acceptable and prudent degree of risk” (Public Debt Management Act 2015).
The DMU functions include:
· Preparing the prospectus for government securities on the Regional Government Securities Market (RGSM) in compliance with PDMA 2015
· Managing investor-creditor relations to maintain demand for government instruments
· Developing a Medium-Term Debt Management Strategy (MTDS) and annual borrowing plan
· Executing funding transactions in compliance with the MTDS
· Preparing regular debt portfolio analysis and preparing and reporting debt statistics periodically
· Providing input for the preparation of the Debt Sustainability Analysis (DSA)
· Recording all government borrowing and maintaining debt records accurately in the Commonwealth Secretariat Debt Recording & Management System (CS-DRMS) database
· Comprehensive validation of the debt database
· Monitoring disbursements and loan utilization and preparing forecasts of debt service payments as part of the annual budget preparation.
Debt Management Unit publications:
1. Quarterly Debt bulletin
2. Debt Portfolio Review
3. Prospectus for Government Securities
4. Medium-Term Debt Management Strategy
The Debt Management Unit is located in building #5 at the Ministry of Finance, Financial Complex, the Carenage, St. George’s.