Development Assistance and Regional Corporation (DARC): This is the front office and is primarily responsible for the mobilization of external resources to finance government programmes. The key functions include coordinating Development Partners, providing advice on external debt, coordinating bilateral and multilateral negotiations and signature of subsequent agreements and protocols, preparation of financing documentation and reports as well as ensuring effective and efficient utilization of external resources.
The Debt Management Department shall be .in charge of the middle and back office management functions. The core competence of the middle office functions is to provide al1risk analyses and reports on contingent liabilities as well as all usual debt reports such .as the annual Debt Strategy. The back office's main functions are to record all debt on the. DMFAS and to timely make payments of principal and interest for all debt.
- Preparation of input to the state budget reports on debt servicing cost forecast.
- Assessing Contingent Liabilities and Guarantees, including those arising from PPP's.
- Responsible for the management of the Treasury Vote 130
- Manage operation of DMFAS debt database.
- Administer the preparation of payment invoices for all debt servicing.
- Prepare risk modelling of the aggregate debt portfolio including deterministic scenario analysis and stochastic simulations.
- Analyse the potential constraints on debt portfolio performance management (macroeconomic, financial market, etc.) and their effects on debt strategy and the annual budget.
- Debt strategy formulation and. design of strategic targets and/ or benchmarks.
- Monitor compliance with the established portfolio and risk management policies including regular reports monitoring various types of risk, e.g market, investment rates and credit risk.
- Maintain a comprehensive inventory of loans, grants and guarantees.
- Establish and maintain public debt records and prepare both statutory and management information from these records.
- Prepare annual public debt interest and principal repayment forecasts for inclusion in the budget.
- Effect debt service payments accurately arid on time.
- Provide timely and accurate information on the country's policy makers and improve transparency in-debt management.
- Provide debt and cash information toassist Macro Economic Policy Department in formulating and implementing the country's annual debt sustainability analysis
- Management of debt limits and domestic debt in coordination with BoU.