UNCTAD and MEFMI rollout new Public Debt Management Software to Eastern and Southern Africa

A joint regional workshop to introduce new public debt data validation software called Debt Management Financial and Analysis System (DMFAS 6.0) officially commenced on 18 June in Harare.

Click to view photos from the event.The regional workshop organized by the United Nations Conference on Trade and Development (UNCTAD) and the Macro Economic and Financial Management Institute of Eastern and Southern Africa (MEFMI) will run until 27 June.

During the opening of the workshop, the UN Resident Coordinator, Alain Noudehou said that debt sustainability is essential to meeting the MDGs. When resources are utilized for servicing unsustainable debt arrears, it denies investment on health, education and social protection programmes that are important for MDG achievement.

Presiding over the opening of the workshop, Secretary for Finance, Willard Manungo, said that public data validation was a very critical aspect of debt management, without which the quality of debt information, upon which key policy decisions are based, would be severely compromised.

The new software will assist borrower countries in the region to disseminate timely and credible information to domestic and international stakeholders, as part of promoting transparency in debt management. In addition, existing and potential creditors, investors and rating agencies, who consider a country’s debt position prior to doing business will benefit by the introduction of the new software. The software will also enable the generation of accurate and timely data vital for factual analysis and to inform the policy formulation process. 

Highlighting the importance of the workshop, MEFMI Executive Director, Dr, Ellias E. Egalande said, “The presence of the UN system including technical experts from Geneva is ample testimony of the strong capacity building partnership between the United Nations and MEFMI.”  “The MEFMI partnership with the United Nations has contributed a great deal to our joint efforts to build capacity not only in Zimbabwe but also in other countries in Eastern and Southern Africa.”

Supported by experts from the UNCTAD office in Geneva, finance experts from five eastern and southern Africa countries including Zimbabwe are participating at the regional workshop to get acquainted with the new version of the debt management software.