Guide to Gov’t’s borrowing policies & debt management operations launched
This report is the first of its kind for the Territory and building on the 2023 base year, it demonstrates Government's commitment to long-term territorial development planning, a press release from Government Information Service (GIS) on May 27, 2024, stated.
Guide to borrowing & debt management
According to GIS, an MTDS presents a debt management strategy with a medium-term focus that would guide the government’s borrowing policies and debt management operations to achieve its debt management objectives.
"As designed, the MTDS aligns with the primary debt management objective of meeting government’s financing needs at the lowest cost, consistent with a prudent degree of risk and with the secondary objective of developing the domestic debt market," the press release stated.
The 2024 – 2026 MTDS is aligned with the 2024-2026 Budget and Medium-Term Fiscal Plan (MTFP). The 2024 Annual Borrowing Plan (ABP) forms a part of the MTDS, and shows how the Government plans to finance the expected net fiscal deficit in 2024, created by the planned large investment in the Territory’s infrastructure.
The optimal strategy selected to finance the Territory’s gross financing needs is linked to the development of the domestic market. In addition, it maximises opportunities for concessional and semi-concessional borrowings and credit enhancements to contain costs and lengthen the maturity of the Territory’s debt portfolio.
Clarity, transparency & accountability
Macro Fiscal Coordinator Michele Richmond-Phillips said, “The preparation and publication of the 2024-2026 MTDS affirms the Government’s commitment to promoting clarity, transparency and accountability in its debt management operations and facilitating constructive dialogue with the VI’s investor base.”
Acting Deputy Financial Secretary, Dr Drexel M. Glasgow added that, “The Government will monitor the MTDS due to continued changes in the global and local macro-economic environment to maintain consistency with key debt management objectives.”
GIS said the report would also not be possible without the ongoing technical assistance and capacity building support and guidance, particularly in the use of the various debt management analytical tools, provided by the Commonwealth Secretariat’s (COMSEC’s) Debt Management Unit and the IMF/CARTAC team.
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4 Responses to “Guide to Gov’t’s borrowing policies & debt management operations launched”
All this is smoking mirrow , most of the numbers being used is made up, ask them to show how they arrived at some of these numbers and you would be surprised. Former Premier Andrew Fahie did four budgets on estimated numbers from figures from the Macro Fiscal Unit in Finance, no actual figures ie revenue and expenses from the JD Edwards systems , you do have to believe me ask treasury. The Governor and the UK has the Auditor and the Internal Auditor trying to find crimes from members of the public for money they get from the Government , please remember whether it was Myron, Claude, or Challwell , Fisher, Farmer, or churches none of them stick up the treasury with a gun. When last have seen an audit report for Government the Auditor General and the Financial Secretary responsibilities, people while the auditor is distracted no real or actual figures for revenue or expenses in six years. Ask the financial secretary or his deputies to explain the first page in the budget , I will bet a dollar to donuts they can not, i pesonally believe if the Premier understod the numbers he would not have signed of this "sh*t".