Secretariat explores updating renowned debt management software

Debt managers gathered at the Commonwealth Secretariat's headquarters in London, UK, to share techniques and policies on how they manage their country's debts and disseminate debt data.

Between 8 and 9 September 2008, the Secretariat invited representatives from Commonwealth countries in the Caribbean, India, Kenya, South Africa, Sri Lanka and Tanzania, as well as representatives of the Macroeconomic and Financial Management Institute for Eastern and Southern Africa (MEFMI) and the Eastern Caribbean Central Bank (ECCB), to a seminar on 'Domestic Debt Management - Operational, Analytical and Statistical Reporting'. Three non-Commonwealth countries, namely, Brazil, Hungary and Mexico also attended the seminar.

The group discussed how the management of their country's debt has changed over the last two decades and looked at potential ways in which the Secretariat's debt software can be developed to meet these new challenges.

The results of the meeting, successfully concluded on 9 September, will be put into a report and used to enhance the set of operational, analytical and statistical reports in the domestic debt module of the Commonwealth Secretariat Debt Recording and Management System (CS-DRMS).

This is one of a number of efforts which aim to keep the software relevant and responsive to its users' needs. It is hoped that the improvements will enable user countries to manage their domestic debt portfolio more effectively.

"We understand that the CS-DRMS needs to sufficiently enhance its reporting facilities so that users can effectively utilise the information it produces for the smooth conduct of their domestic debt operations," said Arindam Roy, Head of Debt Management at the Secretariat.

José Maurel, Director of Special Advisory Services, explained that the Secretariat has been helping its member countries in debt management since the early 1980s, when the CS-DRMS software was developed. "It facilitates timely and comprehensive recording and management of debt," he said.

When the software was first introduced in 1985 it only had two country users, but it is now being used by around 55 countries, both members and non-members of the Commonwealth.

Secretariat Links:

• Special Advisory Services