The Finance and Public Accounts Committee (FPAC), led by Chairperson Hon. Sebastien Pillay, met with a delegation from the Ministry of Finance, National Planning, and Trade and Consultants from the International Monetary Fund (IMF) on Friday 24th November 2023. Accompanying the Chairperson was Vice Chairperson Hon. Terence Mondon, Hon. Sandy Arissol, Hon. Richard Labrosse, and Hon. Georges Romain. Assisting the Committee was Committee Secretary and Deputy Clerk to the National Assembly Ms. Alexandria Faure, Second Secretary Ms. Shannon Surman, and Assistant Secretary Ms. Sheryl Rangasamy.
The delegation comprised of Consultants with the AFRITAC-South IMF Mr. John Gardner and Mr. Tomas Magnusson, Principal Debt Analyst Ms. Stephana Hoareau and Director General of the Debt Management Division Mr. Dick Labonte from the Ministry of Finance, National Planning, and Trade.
The primary aim of the meeting was to engage in an exchange of views on the 2008 Debt Management Act which is intended to be reviewed and updated. Various ways of improving the Act, streamlining, and modernizing processes under the Act, as well as the implications of such revisions, formed the crux of the discussions.
The delegation relayed their concerns to the FPAC regarding the current Act and highlighted proposed changes. The Committee responded by relaying their concerns regarding the implications of the potential revisions and the FPAC Chairperson underscored the necessity of further engagements with the delegation in the ongoing process of revising the Act.
