Debt Management Section Annual Review 2009-2010

The 2009-2010 Annual Review summarises how the Debt Management Section in the Special Advisory Services Division has been working with our member countries to improve the way they manage their public debt. The recent financial and economic crises have had a significant impact on levels of borrowing with ongoing volatility in the global and domestic financial markets. This has resulted in a significant number of challenges on public debt management across the world, including the Commonwealth member countries. The review demonstrates how our programme of assistance has responded over the last year to support member country governments varied needs under the current global economic environment by stepping up of technical assistance as well as by expanding the work on policy advice.

The review also highlights achievements, such as the installation of our debt management software (CS-DRMS) in Liberia and Kosovo that brought the number of countries using the system to 60, and demonstrates how we have continued to help countries make full use of the system’s functionalities to accurately record, manage and report their liabilities. A few innovations introduced in this year include the initiation of a project that would assist countries develop and publish debt bulletin and also a project through which debt managers will be provided training through the e-learning media. In addition, it shows how we have broadened the scope of our assistance to reflect new challenges, such as ensuring that debt management legislation, policies and strategies are well developed, and how we are working closer than ever with our member countries as well as with international and regional organisations.