Creation of Debt and Risk Management Division under the Finance and Debt Management Office

May 29, 2009 DOF DEPARTMENT ORDER NO. 031-09 In the exigency of service and in order to build up the capacity of the Department to efficiently manage the Republic's debt portfolio and to provide policy direction and strategy on National Government (NG) borrowings, including its contingent liabilities, a new division to be named as the Debt and Risk Management Division will be created under the Finance and Debt Management Office (currently International Finance Operations Office), subject to the approval of the Department's Rationalization Plan, to perform the following core functions: CIDTcH a. Formulation of a strategy for the management over the medium term of the debt portfolio, including the related analysis, policy actions and operational parameters in coordination with the other concerned agencies; b. Formulation of consistent policy in relation to NG contingent liabilities, and the related framework; developing the estimates and procedures for budgetary provisioning in respect of expected claims arising from said contingent liabilities and the associated techniques for risk estimation and risk management; c. Development of annual financing plans and programs in line with the debt strategy; d. Provision of policy advice/recommendations and operating parameters for debt and risk management to the appropriate governing body for consideration and approval; e. Conduct of assessment of debt management efforts based on approved targets and parameters; f. Regular monitoring of debt indicators and market conditions; g. Preparation and publication of relevant monitoring, performance and accountability indicators; and h. Such other functions and duties as may be necessary or incidental to its mandate. aHcACT This Order shall take effect immediately and all concerned shall be guided accordingly. (SGD.) MARGARITO B. TEVES Secretary