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;

DMU official contact
dmu@mof.gov.so

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