10 October 2012
A new software to help countries plan, analyse and manage sovereign debt was launched on 10 October during the Commonwealth Finance Ministers Meeting in Tokyo, Japan.
The interactive system known as Horizon assists debt managers in planning strategic debt management, starting from identification of a debt management strategy through to cost-risk analysis.
Sixty-one Commonwealth and non-Commonwealth countries rely on the Commonwealth Secretariat’s debt management software suite to better manage their external and domestic debt.
- the Secretariat’s Debt Recording and Management System, which enables countries to better track their debt, review options for restructuring, evaluate sources of borrowings and develop alternative borrowing strategies; and
- its Securities Auction System, which assists auctioning agencies to manage auctioning of government securities.
It will be piloted by India’s Ministry of Finance and the South African National Treasury in October and November 2012 before being rolled out to other countries. The software is free to all Commonwealth countries, with a nominal cost charged to non-Commonwealth countries.
Roy Arindam, debt management expert at the Commonwealth Secretariat, unveiled the facility to finance ministers.
Speaking about the new software at a press briefing in Tokyo, Commonwealth Secretary-General Kamalesh Sharma said Horizon will provide better debt recording and analysis to assist countries in dealing with the problems of debt sustainability.
“Horizon is not just a recording or a compendium or repository of debt, but also an analytical device. To go into the question of sustainability, you must have a sophisticated tool which is telling you where you are headed. And this is now available with us,” Mr Sharma said.