Public Debt Management

Public Debt Management Office

The Directorate is headed by a Director General, reporting to the Cabinet Secretary. The main objectives of the Directorate include to: –

  1. Minimise the cost of public debt management and borrowing over the long-term taking account of risk
  2. Promote the development of the market institutions for Government debt securities; and,
  3. Ensure the sharing of the benefits and costs of public debt between the current and future generations.

The Directorate is organized into three (3) Technical Departments, each headed by a Director. They include:

  • Resource Mobilization
  • Debt Policy, Strategy and Risk Management
  • Debt Recording and Settlement

Resource Mobilization Department

The department has several divisions, whose main functions are to: –

  • Undertake domestic and foreign borrowing including raising of grants in accordance relevant laws;
  • Prepare and implement the national government borrowing plan and in consultation with the fiscal agent prepare the annual domestic debt issuance calendar;
  • Act as the principal in the issuance of Government debt securities on behalf of the National Treasury through the Implementation of government securities auction calendar;
  • Undertake investor relations activities, roads shows, net shows, liaison and coordination with creditors and market participants;
  • Process Government Guarantees;
  • Coordinate missions and technical assistance from cooperating development partners

Debt Policy, Strategy and Risk Management Department

The department is divided into three (3) divisions, and its main functions include: –

  • Carrying out the government’s debt management policy of minimising its financing cost over the long-term taking account of risk through preparation, implemention and review of the medium-term debt Sstrategy;
  • Monitor and evaluate all borrowing and debt-related transactions to ensure that they are within the guidelines and risk parameters of the debt management strategy;
  • Process the issuance of loan guarantees including assessment and management of risks in national government guarantees and Public Private Partnerships (PPP).
  • Transact in derivative financial instruments in accordance with best international practices benchmarked to the debt management offices of other governments that are internationally respected for their practices.
  • Prepare statutory debt related reports for the Cabinet Secretary;
  • Undertake periodic public debt sustainability analysis, portfolio risks and costs analysis;
  • Review public debt management policy and guidelines;
  • Advise and coordinate domestic debt market for government debt securities;

Debt Recording and Settlement Department

The department is divided into two (2) divisions and its main functions include:

  • Maintaining a reliable debt data base for all loans taken by the national government, county governments and their entities including other loans guaranteed by the national government;
  • Process and settle debt service and disbursement of loans and grants;
  • Prepare, reconcile and maintain financial statements on debt and grants related transactions and submit to the Accounting Officer responsible for finance;
  • Maintain public debt registry;
  • Maintain a comprehensive and reliable debt database for public debt and grants; and
  • Monitor and report disbursement of loans and grants.
Skip to content