Directorate of Loans and Debt Management

The Directorate of Loans and Debt Management (DLDM) is the main directorate in the Ministry of Finance and Economic Affairs (MoFEA) responsible for public debt management. It deals with all aspects of public debt management (both domestic and external) including designing a national public Debt Management Strategy. As defined in Section 51 of the Public Finance Act 2014, the Ministry of Finance and Economic Affairs (MoFEA) through the Directorate of Loans and Debt Management (DLDM) is mandated to formulate and execute strategies for effective public debt management.

In line with the above Public Finance Act, the primary objective of public debt management, is to ensure that Government’s financing requirements are met at the lowest possible cost consistent with a prudent degree of risk, and its secondary objective is to promote the development of the domestic debt market.

The core mandate of the Directorate is further divided into the following units namely:

FRONT OFFICE FUNCTIONS

The Unit has the mandate to facilitate resource mobilization, manage donor and investors relationships, participation in loan negotiations, approving disbursements. coordinating with the Central Bank of The Gambia on domestic debt operations such as the issuance of domestic debt instruments for fiscal purposes, analyzes proposed guarantees and on-lending terms, participates in the issuance of guarantees and the on-lending agreements. Furthermore, the unit serves as the Secretariat to the Liquidity Forecasting Committee and Debt Management Coordinating Committee (DMCC) and coordinates all interaction of the different agencies with respect to debt strategy formulation and implementation. This unit act as the liaison between the Donors/creditors and the Government

MIDDLE OFFICE FUNCTIONS

The Unit is responsible for conducting the overall risks assessment of the public debt portfolio, this includes formulation and implementation of Debt Management Strategy (DMS), conducting Debt Sustainability Analysis (DSA), Medium Term Debt Management Strategy  (MTDS), Annual Borrowing Plan (ABP) and Credit Risk Analysis (CRA).In addition the unit is also responsible for analyzing credit risk assessment,  investment proposals and providing sound  recommendations for management decisions as well as  monitoring government guarantees and on-lent facilities.

BACK-OFFICE FUNCTIONS

The main responsibility of this unit is to maintain a comprehensive debt database on government public debt, administer and process debt service payments, debt data reporting, and periodic debt reconciliation with creditors. Preparation of debt statistics quarterly and annually and debt bulletin,