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An online specialized training on the DMFAS debt securities module took place between 10 November and 11 December 2020 with the Unidade de Gestão de Divida (UGD) of Angola’s Ministry of Finance (MINFIN) and the DMFAS Programme.
This training was aimed at reviewing the use of the DMFAS securities module prior to the final completion of the link between SIGFE (Sistema Integrado de Gestão Financeira do Estado), the national integrated financial management system of the MINFIN, SIGMA (Sistema Integrado de Gestão de Mercado Activos), the bond platform of the Central Bank-BNA) and DMFAS (the debt management system). This interface is among the most complex within the DMFAS user community and extensively uses the DMFAS web services technology to automate the data transfer. This link should increase recording speed and guarantee a high level of security while also addressing other operational risks.
This link will ensure an automatic flow of information between the three systems SIGMA-SIGFE-DMFAS. During the process of issuance of domestic securities, the BNA receives the results of the auction and records the information into SIGMA, the bonds platform. Then the information is automatically sent to the SIGFE. Finally, the information is loaded automatically in the DMFAS debt securities module.
The online course was led by Marcelo Tricárico, DMFAS expert, and facilitated by DMFAS Project Manager, Ricardo Murillo. It provided an overview of the module for the debt managers and how the link is expected to impact the recording and reporting functions. Moreover, during the training, the experts did a thorough joint analysis on how DMFAS-UGD validators must centralize, analyze and review data to ensure maximum quality of the information flows to maintain a reliable and secure debt database. Finally, the course also contributed to training future trainers from the UGD and BNA to teach their junior colleagues.
As part of the training, the DMFAS Programme also organized a series of online meetings with experts from other organizations and countries to share experience and included:
- A session on 25 November 2020 between the World Bank and MINFIN’s UGD team on the topic of best practices in managing and disseminating debt securities data, led by André Proite, World Bank Debt Expert.
- A meeting on 2 December 2020 with the Dominican Republic. Expert DMFAS users Celia González Ricart, Director of the Debt Management Office, and Rossana de Oleo Vásquez, from the IT Department, explained in detail their integrated financial system, specifically the use of debt securities module. The session confirmed to Angolan debt managers and authorities that the successful integration in the Dominican Republic can lead to increased levels of effectiveness in the country.
UGD Deputy General Directors, Avelino Kiampuku and Rui Ceita, participated in both sessions, with the aim of keeping with good practices in the elaboration of debt statistics and promote transparency of Angolan debt data. Building synergies with partners, Angola’s MINFIN focuses on producing qualitative debt information to positively impact the country’s rating.
The DMFAS-SIGFE-SIGMA link is currently being tested by the Angolan stakeholders and is expected to be put in the final production phase during the third quarter of 2021. The DMFAS Programme continues to work closely with all the stakeholders and will organize a technical validation activity before its release in production.
The DMFAS Programme thanks the participation of the World Bank, the Ministry of Finance of the Dominican Republic and MINFIN for enriching the online course experience which included these practical application sessions.
