Section 24, The Public Debt Management Act, 2011.

The functions of the Public Debt Management Divisionshall be– (a) to prepare an annual medium-term debt management strategy in accordance with section 6; (b) to prepare an annual borrowing plan; (c) to prepare the auction calendars referred to in section 7; (d) to participate in negotiations with creditors, and advise the Minister on all Government borrowings; Minister to publish information on loans. Public Debt Management Division. Functions of the Public Debt Management Division. Public enterprise to submit data on borrowings. Annual report. 10 11 Borrowing by public enterprises. (e) to assess the risks in issuing any guarantees, and prepare reports on the method used for each assessment and the results thereof for the attention of the Minister; (f) to facilitate the recovery of any payments including interest and other costs incurred by Government due to the honoring of outstanding guarantees; (g) to prepare annual reports on outstanding guarantees; (h) to assess the credit risk in any lending, and prepare reports on the method used for each assessment and the results thereof for the attention of the Minister; (i) to prepare annual reports on outstanding lending by Government; (j) to process requests from local councils and public enterprises for borrowings pursuant to subsection (3) of section 17, in the case of local councils and subsection (2) of section 19 in the case of public enterprises; (k) to monitor and keep track of debt levels of all local councils and public enterprises; (l) to prepare annual reports on the debt of local councils and public enterprises; (m) to keep timely, comprehensive and accurate records of outstanding Government debt, guarantees and lending in an appropriate database; (n) to advise on all debt servicing obligations of the Government; (o) to prepare and publish debt statistical bulletins regularly; (p) to prepare forecasts on Government debt servicing and disbursements as part of the yearly budget preparation; (q) to store all original loan contracts and debt administration records in a safe place; (r) to compile, verify and report on all Government domestic arrears and design a strategy for the settlement of those arrears; (s) to maintain an inventory and facilitate the payment of share capital subscriptions to international financial institutions; (t) to monitor that the disbursements of loans raised by Government are in accordance with agreed disbursement schedules; (u) to prepare necessary securitization whenever it is deemed expedient that outstanding arrears or any other liability shall be settled by securitization; (v) to perform such other functions as may be determined by the Minister. 12 13 PART X–MISCELLANEOUS