Lesotho’s capacity to record and manage debt has been boosted by the secondment of two debt officers to work with the Commonwealth Secretariat’s expert team in London.
Ms Keletso Matsela and Ms Mapoloko Seitlheko spent two weeks with the Debt Management Unit drawing from the expertise within the unit to assist with interpreting new complex loan agreements as well as deepening their knowledge of the Commonwealth Secretariat’s Debt Recording and Management System (CS-DRMS). The software is used by over 100 agencies including Ministries of Finance, Treasuries and central banks in 60 countries.
The government of Lesotho has been using CS-DRMS since 1994 to record and manage its public and publicly guaranteed external and domestic debt portfolio. The system is installed at the Ministry of Finance and Planning. Recently, the government embarked on a project to use the system for recording grants. The system therefore plays a critical role in assisting the government achieve its public finance management objectives.
Pamella McLaren, Adviser and Head of the Debt Management Unit explained that the small Southern African kingdom had requested additional assistance to review the quality of Lesotho’s debt database, in addition to embedding expertise within the government, thereby ensuring continuity in effective debt recording and management.