Netherlands supports Romania in improving the management of public debt
The Hague / Bucharest, June 11th 2008.
On June 9, 2008 Oxyor, the Amsterdam based financial training company, started training at the Romanian Ministry of Economy and Finance, General Department of Treasury and Public Debt. The training is the first part of a two year support program started under the Netherlands IMF/World Bank Constituency Support Facility, launched in 1997.
The Netherlands is the Chairman of an IMF/World Bank constituency group representing 11 countries, including Romania. The Netherlands IMF/World Bank Constituency Support facility aims to support countries with which the Netherlands shares its constituency in the Board of Directors of the IMF and World Bank. Since 2007 the facility has been administered by the EVD and the Netherlands embassies in close consultation with the Ministry of Finance and the Ministry of Economic Affairs.
This facility allows building the capacity of the public sector. The Netherlands attaches importance to close cooperation with the countries in the IMF/World Bank constituency. The co-financing of projects and programmes will strengthen the bilateral cooperation in the economic and financial sphere. This project was proposed by the Romanian Ministry of Economy and Finance, General Directorate of Treasury and Public Debt.
As a first part of this project Oxyor started a five week financial markets training program on June 9. Topics covered are International Debt Capital Markets, Liquidity-, Risk- and Cash Management. The September 2008 training program, in cooperation with Capitad, will cover cash flow forecasting and sovereign debt training.
In 2009 Capitad and Oxyor will organize internships with the Primary Dealers of the Romanian General Department of Treasury and Public Debt and the Dutch State Treasury Agency and Dutch Ministry of Finance. The Support Facility will also supply funds for capital market information systems from 2008 – 2010.
By offering support on both a theoretical and practical level this Constituency Support Facility Program aims at supporting the Romanian Government in building capacity at the General Department of Treasury and Public Debt.
