The Financial Evaluation Division is responsible for ensuring that the Government's financing needs and its payment obligations are met at the lowest possible cost.
The Division was previously called Loans and Revenue Division. The name was changed following a functional review into the responsibilities of the Departments of Finance, Treasury and National Planning & Monitoring. The name change was in line with the Division's move to be more involved in debt management rather than maintaining records on debt and debt servicing obligations.
The objective of FED is to manage the public debt by ensuring that the Government's borrowing program and financing requirements and its debt service payments are met at the lowest possible costs, consistent with a prudent degree of risk. This involves the following:
- Managing effectively the loan agreements with domestic and international financing institutions, banks, governments and donors;
- Securing the best possible terms and conditions from all financing sources;
- Ensuring that the debt service obligations are met in accordance with the terms and conditions of the loan agreements;
- Maximise the utilisation of loan proceeds to minimise financing burdens;
- Maintaining proper and accurate records of public debt stock and flows through the Commonwealth Secretariat Recording and Debt Management System (CS-DRMS); and
- Providing advice and assisting Statutory Authorities and Provincial and Local Level Governments in organising their borrowing plans and managing the State Guarantees.