On April 1, 1998, the Ministry of Finance and Planning assumed responsibility for all debt management functions previously undertaken by the Bank of Jamaica. With the exception of conducting primary market issues, including Treasury Bill auctions, and effecting external debt payments, the core debt management functions including debt policy and strategy formulation, debt-raising activities, a registrar and payment function for government securities and debt monitoring, now fully reside within the Ministry.

With a return of these debt management functions to the Ministry, the mandate of the Debt Management Unit (DMU) is to raise adequate levels of financing for the budget, at minimum debt service costs. At the same time, the DMU will pursue strategies to ensure that the national public debt progresses to and is maintained at sustainable levels over the medium term.

The DMU is committed to providing high quality, cost-effective and customer friendly services through well-controlled and efficient operations and highly trained professional staff.

Organisational Structure

The DMU falls within the Economics Division of the Ministry of Finance & Planning. The Unit is headed by a Senior Director and comprises four sections each managed by a Sectional Head. The four sections are:

• Domestic Debt with responsibility for domestic debt raising and loan administration activities as well as debt strategy and analysis functions.

• External Debt with responsibility for external debt raising and loan administration activities as well as debt strategy and analysis functions
• Electronic Data Processing (EDP) with responsibility for administering and maintaining all electronic systems used by the DMU.

• Securities Management with responsibility for all activities related to the registrar and payments functions for government securities.

Reports

Public issues of securities: