- July 28, 2021
- Posted by: admin
- Categories: Current News, debt management
Effective recording and reporting of public debt on a consistent basis requires adequate staff capacity and the use of a secure debt recording system with appropriate functionalities. While MEFMI has made substantial progress in building the capacity of both users and IT administrators of the Debt Management and Financial Analysis System (DMFAS) in the region, a recurrent challenge faced by countries has been the retention of appropriately trained staff in debt management offices. In addition, the United Nations Conference on Debt and Development (UNCTAD), the developer of the DMFAS, constantly refines the system in line with new practices in debt management, advances in computer technology and the evolving needs of client institutions.
In 2019, Investments and Debt Management department (IDM) recruited new DMFAS Database Administrators. As part of efforts to close capacity gaps, the Ministry of Finance in Zambia requested MEFMI to train Database Administrators on procedures for the installation and maintenance of the DMFAS. The training, which was delivered virtually from 7 to 18 June 2021 is part of MEFMI’s support to member countries’ efforts to build comprehensive public debt databases and enhance transparency and accountability in the management of public debt.
A total of seven (7) officials were trained on procedures for the installation and maintenance of the DMFAS. The knowledge acquired is expected to enable participants to effectively support the business side of the system, and thus making the DMFAS a secure and stable repository of public debt information. Ultimately, this will ensure the availability of a consolidated and up-to-date government debt database that facilitates the timely retrieval of statistics to inform policy analysis and strategy formulation.