The Director, Debt Management Department (DMD) Ministry of Finance, Kaduna State Mr Caleb Hyuk has addressed the old and newly recruited Staff that were posted to the Department.
In his power Point presentation, Mr Caleb has highlighted and discussed the Elements of effective public debt management, Objectives of sub-national debt management, Causes of sub-national debt crisis, and lastly the Risks associated with sub – national borrowings.
Mr Caleb has emphasized that, borrowing bridges the gap between Government Revenue and Government Expenditure. Therefore, Proceeds of borrowings must be used productively and efficiently to ensure the debts remain at sustainable levels.
The Director Debt Management further explained that, Public Debt Management is primarily concerned about managing Government’s debt portfolio with the goal of meeting resources requirements without reasonable risks while maintaining debts at sustainable levels.
He also said that effective Public Debt Management encompasses all aspects of borrowing: – Identifying the gaps, Evaluating the borrowing options, Negotiating with creditors, Signing of the loan agreement, Drawing and utilization of the proceeds, Recording, reporting, and monitoring of the debts, Analyzing the debt data, Ensuring and effecting prompt debt service payments and Managing risks associated with the borrowings.
At the end of the presentation, questions were asked and the Director Debt Management Department responded accordingly.
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