Document signed to improve public debt reporting and guarantees

11.09.2019,17:56


September 11, Fineko/abc.az. In order to implement the President’s order “Medium and Long-Term Government Debt Management Strategy in the Republic of Azerbaijan”, the Ministry of Finance and the United Nations Conference on Trade and Development (UNCTAD) signed a draft document on procurement and implementation of the Debt Management and Financial Analysis System (DMFAS) program.

According to the ministry, a project with a deadline of 36 months will be implemented with financial support from the Asian Development Bank (ADB) and the State Secretariat for Economic Affairs (SECO) (in the form of a grant). The project provides for the provision of software for permanent use to the Ministry of Finance and the conduct of relevant trainings for employees. The project also aims to improve public debt reporting and guarantees.

The main goal of the DMFAS program - UNCTAD Debt Management and Financial Analysis Systems - is to provide more efficient public debt management with the goal of sustainable economic development, better governance and poverty reduction.

It should be noted that at present, the DMFAS program supports reliable debt management in ministries of finance and central banks in up to 60 countries to increase their production capabilities.