- February 16, 2024
- Posted by: admin
- Categories: Current News, debt management
MEFMI assisted the Ministry of Finance of Tanzania in formulating a Medium-Term Debt Management Strategy (MTDS) and an Annual Borrowing Plan (ABP) at an in-country workshop conducted from 23 October to 3 November 2023 in Arusha, Tanzania. The debt management strategy and the borrowing calendar will be used by the authorities to inform the borrowing and debt management decisions.
The IMF/World Bank MTDS and ABP Analytical Tools (AT) were used to formulate the debt strategy. The workshop covered the eight steps to formulate a debt strategy, preparation of public debt data, stylized debt instruments, and projection of market variables (exchange and interest rates). In addition, ABP process included the domestic issuance calendar. Participants prepared macroeconomic assumptions for the medium term and practical exercises on key Excel functions and analysis of the debt cost and risk indicators were also explored.
Participants were assisted in drafting the preliminary MTDS covering the period 2023/24 – 2025/26 and ABP for 2023/24 documents, which will be finalised after consultations with the senior management in the Ministry of Finance.
The workshop was facilitated by four (4) resource persons, comprising two (2) MEFMI Accredited Fellows (Mr. Lekinyi Mollel from the Bank of Tanzania and Mr. Cappitus Chironga Jazz from the Central Bank of Kenya), one (1) Graduate Fellow (Mr. Michael Tukacungurwa, from the Bank of Uganda) and Ms. Cristina Dimande from the MEFMI Secretariat.
A total of 18 officials participated in the workshop, drawn from the Ministry of Finance (Departments of Debt Management, Policy Analysis, and External Finance), the Bank of Tanzania and the President’s Office – Finance and Planning of Zanzibar. 72 per cent of participants in the workshop were male and the remaining were female. The trained officials are expected to continue using the imparted skills and knowledge to update the country’s MTDS and prepare ABP annually.