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By Laws


Section 1: The name of the organization shall be the LAC DEBT GROUP Latin American and the Caribbean Public Debt Management Specialists (Group).

Section 2: The Group was designed to support the knowledge and institutional capacity of the public entities responsible for debt management in Latin America and the Caribbean (Debt Management Offices - DMOs).

Section 3: The Group will have meetings every year. The date of the regular annual meeting shall be set by the Steering Committee who shall also set the date and place.

Section 4: Notice of the annual meeting shall be given to each public entity responsible for debt management in the countries, by e-mail or fax, not less than two months before the meeting.

Section 5: The Steering Committee may call special meetings of the Group.


Section 1: Application for voting membership shall be limited to the public entity responsible for debt management in each country and assigned by the authority that supports the purpose statement in Article 1 Section 2, and continuing membership is contingent upon being up-to-date on membership dues.

Section 2: Each country member of the Group has one vote. It shall appoint one voting representative to attend the annual meeting.

Section 3: Other public entities related to public debt management in a country can participate in the Group (with voice but no vote) in coordination with the public entity responsible.

Section 4: International institutions related to public debt management can participate in the meetings of the Group.The invitation and participation of these institutions must be ratified by the Steering Committee.

Section 5: The Steering Committee shall have the authority to establish and define nonvoting categories of membership.


Section 1: The Steering Committee is responsible for overall policy and direction of the Group and shall have seven members, a Chair, a Vice-Chair, an Executive Secretary and other four Steering Committee officers. It will delegate responsibility for day-to-day operations to the Chair, Vice-Chair and Executive Secretary. The Steering Committee receives no compensation.

Section 2: The Steering Committee shall meet once a year at the time of Annual Meetings of the Group, at an agreed upon time and place. It will have as many as additional meetings by the request of any Steering Committee member and they can be at the level of conference call. Decisions made should be communicated by e-mail to the Group members.

Section 3: A quorum must be attended by at least four of the Steering Committee members before business can be transacted or motions made or passed.

Section 4: An official Steering Committee meeting requires that each Steering Committee member have a written notice not less than two weeks in advance. In specific circumstances each member of the Steering Committee will have a written notice 48 hours in advance.

Section 5: The Steering Committee members shall be elected by the voting representatives of the country members entities.

Section 6: All Steering Committee members shall serve three-year terms, but are eligible for re-election of one term.

Section 7: The Steering Committee is responsible for designating a Nominating Committee that will nominate a slate of country member representatives to be chosen in each election period, seeking to preserve the diversity and balance necessary into the Group. Six months before the elections, the Steering Committee will designate the Nominating Committee. This Committee will be up to three members; one is the Chairman of this Nominating Committee that has to be one of the Steering Committee members; second of this members has to be the Executive Secretary; and third any other member of the Group that has vote. Ninety Days before the annual meeting of the corresponding election period, the Nominating Committee will make a written proposal of candidates to the Steering Committee. The Chairman of the Steering Committee and the Chairman of the Nominating Committee will present the candidates at the annual meeting for the corresponding ratification.

Section 8: All Steering Committee members, except the Executive Secretary, shall be elected at the corresponding Annual Meeting after the at-large members are seated. Their duties are as follows:

The Chair shall convene regularly scheduled Board meetings, shall preside or arrange for other members of the steering committee to preside at each meeting in the following order: Vice-Chair and the other three officers.

The Vice-Chair will chair committees on special subjects as designated by the Steering Committee.

Section 9: The Executive Secretary shall be responsible for keeping records of Board actions, including overseeing the taking of minutes at all board meetings, sending out meeting announcements, distributing copies of minutes and the agenda to each Steering Committee member, and assuring that corporate records are maintained. It shall make a report at each Steering Committee meeting. It shall assist in the preparation of the budget, help develop fundraising plans, and make financial information available to Steering Committee members and the public. The Executive Secretary will be the Inter-American Development Bank (IDB) that will have voice but no vote. It will propose to the Steering Committee the agenda for annual meetings, workshops and other activities. The Executive Secretary could appoint a General Coordinator to establish with endorsement of the Steering Committee and the other personal needed in order to support the implementation of the program of the Group.

Section 10: The Advisory Board will be comprised of International Organization members who wish to provide guidance to Steering Committee. Members of the Steering Committee will identify potential candidates for the Advisory Board based in their commitment to the Group objectives and mission and their expressed interest in it. Candidates will be invited to participate as members of the Advisory Board for a period of two year, but are eligible for re-election of one term.

Section 11: The first Steering Committee will be composed by the three countries that initially supported the creation of the Group - Brazil, Colombia and Mexico - and three other countries elected by them and endorsed by the Executive Secretary, seeking to preserve the diversity and balance necessary into the Group . The first Steering Committee members shall serve two-year terms, but are eligible for re-election of one term.

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