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Cabinet Approves Public Debt Management Policy And Publication Of Debt Reports

Image of Allen M. Chastanet, Prime Minister of Saint Lucia.

On November 6, 2020, the Cabinet of Ministers officially approved the Public Debt Management Policy (PDMP) and the publication of two (2) debt reports namely the 2019 Annual Debt Portfolio Review and the Quarterly Debt Bulletin as of June 30, 2020.

The Public Debt Management Policy is an effort to manage and guide Saint Lucia’s debt management practices and to correct the shortcomings of the current public debt framework.  The PDMP establishes a robust legal framework which sets out the authority to borrow, specifies the purpose of borrowing, establishes clear debt management objectives, requires the preparation of a debt management strategy, and requires mandatory reporting on debt management performance.

The Annual Debt Portfolio Review provides a comprehensive look at the debt situation of Saint Lucia over the past five-year period.  It provides an analysis of movements in the debt stock and explores debt-related issues identified in Saint Lucia’s debt management strategy while identifying risk indicators inherent in the portfolio.

The Quarterly Debt Bulletin analyses debt statistics such as central government debt, guaranteed loans and external and domestic debt breakdowns. The quarterly frequency of this report will serve as a monitoring mechanism for the Government and investors.

These reports will be available on the Government’s web portal and Department of Finance website, providing invaluable information to the public who require data to inform their investment decisions and other stakeholders requiring up to date research data.

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