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Guyana makes notable strides on debt management with CEMLA
With the help of the Centre for Latin American Monetary Studies (CEMLA), it appears that Guyana has made some significant strides when it comes to debt management.
Finance Minister, Winston Jordan
This is according to Finance Minister, Winston Jordan.
The economist made this, among other remarks at the opening session of the second national workshop on sustainable funding strategy which was held at the Pegasus Hotel on Monday.
In attendance at the event was Minister within the Ministry of Finance, Jaipaul Sharma; Governor of the Bank of Guyana, Dr. Gobind Ganga; Deputy Governor Dr. Terrence Smith; Finance Secretary Dr. Hector Butts; Director of the Office of the Budget Ms. Sonya Roopnauth and Coordinator of CEMLA’S Public Debt Management Capacity Building Programme (PDP) Mr. Jaime Coronado Quintanilla, among others.
Jordan also took the opportunity to thank Coronado for his exemplary work, leadership and guidance under the Public Debt Management Capacity Building Programme Strategic Country Plan for Guyana, which concludes this year.
Under this Programme, the Finance Minister explained that Guyana has made notable progress in the area of debt management.
He said that the notable achievements to date include the formulation of a National Sustainable Funding Strategy in 2015, inclusive of a Debt Sustainability Analysis and Public Debt Strategy; a comprehensive Public Debt Management Procedures Manual which has improved and ensured consistent debt management operations whilst reducing operational risk, and the first National Workshop on Debt Management Self-Evaluation and Improvement (DMSAI) in 2016, using the World Bank Debt Management Performance Assessment (DeMPA) Methodology to assess Guyana’s debt management operations, and chart a course for improvement and achievement of international best practices.
The Finance Minister said that these achievements are tangible indications of the Government’s redoubled efforts to ‘raise the bar’ in the management of public finances, including the public debt, in order to heighten transparency and accountability, value for money, and efficient and effective allocation of the nation’s resources.
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