The Public Credit General
Office was created as the result of the necessity to
define and implant, within the framework of the
Integrated Financial Management Program, a Public Credit
System that assures the establishment of the financing
policy of the public sector, the fixation of
indebtedness limits and the identification of operations
that merited it, the effective reception of the
resources that comes from this source of financing, its
application for the willing ends and the efficient
administration of the debt service that originates.
Public Debt Total
2005
2006
2007
Sep-2008/1
7,787.4
8,376.7
8,569.1
9,041.7
External Debt
6,812.5
7,265.3
7,566.5
7,850.0
Central Government
5,451.1
6,237.5
6,508.9
6,828.2
Multilateral
1,709.0
1,814.4
1,816.4
1,701.4
Bilateral
2,279.3
2,567.4
2,892.4
3,498.1
Commercial Banks
303.2
366.2
418.0
354.0
Bonds
1,149.3
1,481.8
1,376.3
1,270.9
Suppliers
10.3
7.7
5.7
3.8
Rest of NFPS
396.0
58.0
46.8
39.5
Private Guaranteed Sector
25.8
23.7
21.6
20.7
Financial Public Sector
939.6
946.0
989.2
961.6
Domestic Debt
974.9
1,111.3
1,002.6
1,191.7
Commercial Banks
725.5
821.8
668.5
684.5
Bonds
249.3
289.5
334.1
507.2
Public Debt (% GDP 91)
22.9%
23.4%
21.1%
19.4%
*Figures in millions (USD) as of December 31st
of each year.
** Preliminary figures.
**New GDP base, year 1991, updates the
productive structure giving a higher weight to
the activities with greater influence within the
Dominican economy. As of 2007, all the
indicators are measured with the GDP base 91.
/1 Public Debt/GDP ratio as of September 2008 is
based on the upward re-estimation of the nominal
GDP in Dominican Peso and US Dollars, held in
September 2008 by the technicians of the State
Secretariat of Economy, Planning and Development
(SEEPyD), the Central Bank of the Dominican
Republic (BCRD) and the Ministry of Finance.
LEGAL
FRAMEWORK
Laws
PDF
Public Credit Law
No.6-06
Replacement of
Sovereign Bonds Law No.118-05
Law No.167-07 for the
Recapitalization of the Central Bank of the
Dominican Republic
Decrees
Decree No.016-07
Resolutions
Resolution No.65-06
which approves the organizational structure of the
Public Credit General Office.
Regulations
Public Credit
Regulation Decree No.630-06
General Application
Regulation for Law No.167-07
Agreed
Minutes
Agreed Minute Paris
Club, October 21, 2005. External Debt Reorganization
2005.
Agreed Minute Paris
Club, April 16, 2004. External Debt Reorganization
2004.
To attend in the task of
management of the human resources and provision and
administration of the material resources of the Public
Credit General Office.
To manage the inclusion of the
expenses in goods and services and others, destined to the
normal operation of the Public Credit General Office, within
the corresponding budgetary forecasts.
To control and supervise all
the documentation and correspondence that enters and
withdraws of the PCGO.
Informatic Division
General Functions
To attend in the computer
science services of the PCGO.
Coordinate with the different
Directions the development of the page Web.
Maintain the information
systems working in an appropriate way, specially the DMFAS (SIGADE)
and its relation with the rest of the systems that compose
the SIGEF.
CREDIT NEGOTIATIONS DEPARTMENT (FRONT OFFICE)
Bilateral and
Multilateral Public Investment Projects Financing Division
General Functions
Negotiation of loans of
bilateral and multilateral organisms for investment
projects.
General Financing and Debt
Restructuring Division
General Functions
Administer the process of
emission and positioning of titles and debt bonds.
Design and propose norms that
regulate the procedures of negotiation, hiring, payment of
loans and manage of the emission of titles in the markets of
local and international credits.
Propose and participate in the
negotiations of restructuring of the national debt.
INFORMATION, FINANCIAL ANALYSIS AND RISK CONTROL DEPARTMENT
(MIDDLE OFFICE)
Portfolio Analysis and Risk Control
Division
General Functions
To attend in the development of
the indebtness strategy.
To analyze different risk types
that may affect the debt portfolio, and the financial
conditions for the access of the central government to the
diverse financing sources.
Direct and Indirect Indebtness
Authorization Division
General Functions
To evaluate the requests of
authorization of public credit operations from public sector
organism.
Information and Capital Market
Analysis Division
General Functions
Analyze the current operations
in the capital markets.
PUBLIC DEBT MANAGEMENT DEPARTMENT (BACK OFFICE)
Debt Registry Division
General Functions
Register and control of all
public debt operations in the Debt Management Financial
Analysis System (DMFAS/SIGADE); as well as in the SIGEF.
Elaborate public debt service
projections.
Budgetary Formulation and Execution
Division
General Functions
Elaboration of the programming
and execution the budget for the debt service.
To emit the order of payment
and to manage the payments of the external and domestic debt
of the Central Government.
Administrative Debt Division
General Functions
To organize, analyze and audit
the administrative debt claims.
