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  • Government of Jamaica

Structure of the DMB

Portfolio Management Unit

  • Implements the borrowing plan by executing portfolio transactions in financial markets, both domestic and foreign, in order to meet the funding gap determined by the Ministry of Finance. Portfolio transactions include short or long-term borrowing, externally or domestically, as well as hedging transactions
  • Responsible for debt negotiations and for implementing strategies related to bond negotiations, including structuring securities for issuance in the domestic and international capital markets.
  • Also responsible for facilitating the development of the market for government securities and plays a major role in determining and implementing the infrastructure for primary and secondary market development for government securities

Debt Strategy and Analysis Unit (DSAU)

The Debt Strategy and Analysis Section (DSAS) is the strategic and analytical arm of the Branch. It is responsible for the development of medium- and long-term strategies aimed at reducing cost and risk in the public debt portfolio.

The DSAS is comprised of three units:

  • Risk Analysis: This unit develops a comprehensive medium-term debt strategy based on rigorous quantitative analysis of the portfolio, macroeconomic and financial market conditions. It establishes strategic benchmarks and continually assesses performance against benchmarks. It establishes a risk management framework and designs strategies to mitigate risk.
  • Investor Relations: This unit develops and implements an investor relations programme (both external and domestic). It provides extensive information to the market to help assured continued and low-cost financing to government.
  • Policy Research and Analysis: This unit undertakes research to inform debt management policy, strategy and debt operations. It is responsible for producing key debt management reports and debt statistics.

Debt Operations Unit

The Debt Operations Section (Debt Ops) is the accounting, statistical and payment and settlement arm of the Branch. It is responsible for maintaining a high quality and up- to-date database that will allow timely debt recording, disbursement servicing and accounting for the debt

Debt Ops is comprised of three units:

  • Debt Recording and Systems Support: This unit performs the recording and reporting function as well as the payment and settlement function. It is primarily responsible for maintaining the Commonwealth Secretariat Debt Recording and Management System (CS-DRMS).
  • Debt Reconciliation: This unit confirms billing invoices, reconciles financial balances and transaction in CS-DRMS, prepares audit confirmations, and reconciles project bank accounts.
  • Disbursement Monitoring: This unit monitors and ensures the timely execution of loan disbursements and reports on disbursement inflows from abroad.