Pamella McLaren, President CARADEM
Order Of Presentation Why an association? Who we are? Regional Challenges Proposed Steps and Accomplishments
Why an Association? Debt problems of small states differ from those of larger countries Commonality shared among Caribbean countries Examine Caribbean solutions for more effective public debt management CARADEM Est. October 2011
Technical and policy discussions Capacity Building Strengthen the technical capability Strengthen and improve the effectiveness Disseminate standardized public debt data Practical advice on debt management Institutional Reform Establish communication network Regularly exchange experiences and information Effective and continuous sharing of information
CARADEM Who we are 15 CARICOM Full Members Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago 5 CARICOM Associate Members Anguilla, Bermuda, British Virgin Islands, Cayman Islands, and Turks and Caicos Islands
Executive members Mrs. Pamella McLaren President Mrs. Michelle Doyle-Lowe Vice President Mr. Francis Fontenelle Executive Member Ms. Marlene Jeffers Secretary Ms. Patlian Johnson Executive Member
Associate Partners Commonwealth Secretariat Caribbean Technical Assistance Centre Associate member Mrs. Michele Robinson Debt Management Consultant
Regional Challenges Restricted Growth Containment of high and unsustainable debt levels Endogenous and Exogenous Shocks Improvement of risk indicators for small open economies Domestic Markets Development of Domestic Market as a source of liquidity Improved monitoring of contingent liabilities Liability management
Proactive Debt Management Cost & Risk Management Domestic Market Development Capacity Building Activities Policy Formulation Debt Management Strategy
Domestic Market Development Efficient money and primary markets Access to a diversified investor base Ensure strong and stable demand for government debt securities Maintaining fair efficient and transparent markets Reducing systematic risk Protecting investors Debt market regulation A sound securities custody and settlement system Enforceability of transactions Protection of clients assets
Impact Of Global Crisis Increased investor risk aversion Increased cost of funding for emerging economies Increased exposure of risk Countries defer issuance or employ contingency plans
Proposed Steps Mandate Members to Submit Information Communication Network 1 2 Public debt management activities Public Debt statistics Development of website Structured emails Institutional developments Newsletter
Accomplishments Linked page at http://www.michelerobinson.net/caradem_ caribbean_association_of_debt_managers First publication of CARADEM S Newsletter Establish Bylaws Establish Mandate
Mandate: A Snapshot Articulate clearly the debt management issues Assist member countries in the area of debt management Represent the member countries on debt management Ensure member countries maintain lines of communication among themselves
Bylaws: A Snapshot ARTICLE I NAME ARTICLE II - PURPOSES ARTICLE III- MEETINGS ARTICLE IV MEMBERSHIP ARTICLE V GOVERNING BODIES ARTICLE VI AMENDMENTS to BYLAWS
Suggested Logos
The Way Forward 1 2 3 CARADEM S LOGO Submit information on research activities Next Meeting
CARIBBEAN ASSOCIATION OF DEBT MANAGERS C/O Ministry of Finance & Planning 30 National Heroes Circle Kingston 4, Jamaica West Indies Tel: 1-876-932-5400 Fax: 1-876-932-5975 E-Mail: pamella.mclaren@mof.gov.jm Link : http://michelerobinson.net/caradem_caribbean_association_of_debt_managers