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Enhancing Debt Reporting in Sierra Leone

24 August 2006

‘Debt Reporting and the External Debt Compilers Guide’ was the focus of a regional training course which took place in Freetown, Sierra Leone, between 7 and 18 August 2006.

The course, organised by the West African Institute for Financial and Economic Management (WAIFEM) in collaboration with the Commonwealth Secretariat and the International Monetary Fund (IMF), was designed to acquaint participants with 'External Debt Statistics: Guide for Compilers and Users' -- a major reference document in the field of external debt which was published by the IMF in 2003.

The Guide was produced by the International Task Force on Finance Statistics, of which the Secretariat is a member. It provides guidance on the concepts, definitions and classifications of external debt data. Apart from giving insights into the sources and techniques to compile such data, the document also advises on how to make analytical use of it.

The workshop -- which was inaugurated by the Governor of the Bank of Sierra Leone, Dr J D Rogers -- was attended by 32 officials from African countries including Commonwealth members The Gambia, Ghana, Nigeria and Sierra Leone.

The course was facilitated by Baba Musa, Director, Debt Management, and Sam Omoruyi, Adviser, Debt Management, from WAIFEM; Walton Gilpin, Adviser, Debt Management, and Nick Cusk, Systems Analyst, from the Secretariat's Special Advisory Services Division; and Eduardo Valdivia-Velarde, Senior Economist, from the IMF.

"The course was successful in focusing on the principles and measurement techniques of debt data, analysis and dissemination," said Mr Cusk.

"It provided an opportunity for participants to share knowledge and experiences of country practices in debt compilation and reporting. Participating countries should now be able to present their debt statistics in line with the recommendations of the External Debt Guide."

The event was the second workshop organised by the Commonwealth Secretariat to disseminate the Guide. The first was held in Uganda last November.

 

CNIS - Commonwealth News and Information Service Issue 299, 23 August 2006