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In 2019, the Ministry of Finance (MoF) of Egypt and the DMFAS Programme signed a technical assistance project, funded by the State Secretariat of Economic Affairs of Switzerland (SECO). Its objective is to strengthen public debt management in the MoF for domestic debt management, as well as to strengthen the Ministry’s overall ability to report and analyse the overall public debt portfolio.
Project implementation started in 2020, with the updating of the IT infrastructure of the back-office by the Ministry. Subsequent activities included a series of IT and debt management activities such as the validation of the debt database in DMFAS 5.3, remote installation of DMFAS 6, and the provision of related technical and functional training. Those activities have been provided both in Cairo as well as remotely from Geneva during the pandemic.
After a successful DMFAS 5.3-DMFAS 6 parallel run testing period which ended in October 2021, debt officers at the Ministry of Finance of Egypt are now fully using DMFAS 6 for domestic debt and on-lending operations. DMFAS 6 is also used at the Central Bank of Egypt for external debt.
The switch-over to version 6 is the first step of a comprehensive project for modernizing the debt management back-office at the Ministry as well as strengthening debt management skills generally to support data reliability, debt operations, statistics and analysis. Upcoming activities include workshops in debt statistics and analysis as well as support in documenting back-office procedures.
MoF Debt officers receive DMFAS 6 advanced training certificates, Cairo, October 2021