Strategic Objective
To support the Federal Government of Somalia by collecting, recording, managing and reconciling of domestic arrears and external debt; and preparations and readiness for re-engagement with the international financial institutions (IFIs) through the processes of IFI arrears clearance, re-accessing IFI financing, and HIPC debt relief.
The tasks of DMU staff involve two interconnected functions:
- The policy/analytical/planning function for issues relating to arrears clearance and debt relief (‘front and middle office’)
- The recording/monitoring/reporting of existing loans and reconstruction of Somalia’s external database (‘back office’)
The tasks of the Head of DMU include, but are not limited to the following:
- Head of Debt Management Unit;
- Coordinate and manage activities of debt section, while working closely with the aid coordinator;
- Maintaining well-informed and coordinated relations with Somalia’s creditors, development partners, and International Financial Institutions (IFIs) on issues related to Somalia’s external debt position, arrears clearance and debt relief;
- Manage CS-DRMS database of debt flows and stocks;
- Assist the Back Office in the Management of the CS-DRMS as needed;
- Coordinate and manage activities of debt section;
- Coordinate debt issues within the relevant departments of the MoF, with MoP, CBS and, as needed, other ministries and government offices;
- Lead analytical work and negotiations/discussions on loans and issues relating to arrears clearance and debt relief;
- Issue and ensure timely circulation of debt reports to Minister of Finance, IFIs and other stakeholders on debt situation in prescribed format, in context of HIPC;
The tasks of the Front-Office function include, but are not limited to the following:
- Assist the Head of Debt Management Unit;
- Assist in coordinating and managing activities of debt section, while working closely with the aid coordinator;
- Assist in Maintaining well-informed and coordinated relations with Somalia’s creditors, development partners, and International Financial Institutions (IFIs) on issues related to Somalia’s external debt position, arrears clearance and debt relief;
- Assist in coordinating and manage activities of debt section;
- Assist in coordinating debt issues within the relevant departments of the MoF, with MoP, CBS and, as needed, other ministries and government offices;
- Assist in analytical work and negotiations/discussions on loans and issues relating to arrears clearance and debt relief;
- Assist in issuing and ensure timely circulation of debt reports to Minister of Finance, IFIs and other stakeholders on debt situation in prescribed format, in context of HIPC;
The tasks of the Back-Office function include, but are not limited to the following:
Manage CS-DRMS database of debt flows and stocks;
- Help prepare for loan planning and negotiations;
- Prepare debt data for debt reports;
- Interpret and record loan agreements into CS-DRMS, and monitor disbursements,
- Ensuring timeliness in coordination with Front Office and Aid Coordination in MoP;
- Project debt service obligations for Budget;
- Prepare timely and accurate debt service payments for SFMIS;
- Assist Front Office in the preparation of debt reports as required for Ministry, IFI, other stakeholders
- Validate debt data regularly and update CS-DRMS database;
- Reconcile debt transactions with creditors and other government departments;
- Maintain inventory of loan/grant agreements (in coordination with Aid Coordination in MoP)
- Undertake any other duties that may be assigned by the Debt Manager;