mefmi-programmes.jpg
 
 
Sun Mon Tue Wed Thu Fri Sat
4
5
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
 

database1MEFMI, jointly organized a regional workshop for Users and IT Administrators of the Debt Management and Financial Analysis System (DMFAS) with the United Nations Conference on Trade and Development (UNCTAD), from 15th to 24th August 2016 at Intercontinental Hotel, Lusaka, Zambia. A total of 33 officials from four (4) DMFAS User member states were trained, with female participants representing 45 percent of the total.

MEFMI and the Commonwealth Secretariat (COMSEC) conducted a joint regional workshop on Managing Domestic Debt and Lending Instruments using the Commonwealth Secretariat Debt Recording and Management System (CS-DRMS) from 18 to 27 April 2016 at Crossroads Hotel, Lilongwe, Malawi. The training aimed at imparting theoretical knowledge and practical skills on the management of domestic debt and lending instruments using CS-DRMS version 2.2.

Zambia’s public debt has increased substantially in recent years due to Eurobond issuances. Public debt to Gross Domestic Product (GDP) more than doubled between 2011 and 2015 and was estimated at 50 percent of GDP as at end-2015 (or US$8.7 billion). The main factors behind this increase are the three Eurobonds issued in 2012, 2014 and 2015, altogether amounting to US$3 billion. Domestic debt also increased and accounted for 25 percent of the outstanding debt as at end-2015.

Zimbabwe is still facing the challenges associated with having a high public debt burden. The public and publicly guaranteed external debt stock was estimated at US$7.1 billion as at the end of 2015, representing 52 percent of Gross Domestic Product. External arrears accounted for 80 percent of external debt and include penalty interest charges. Continued arrears accumulation not only constrains the Government’s access to external financing but also discourages private investment, which is necessary to unleash Zimbabwe’s growth potential. Domestic debt, estimated at US$1.9 billion (14 percent of GDP) as at end-2015, is also a challenge because it comprises mostly short term debt instruments that have high interest rates.

 

  MEMBER STATES   COOPERATING PARTNERS
   
 


SiteLock