This policy paper assesses public debt governance frameworks in Egypt and the possibility of benefiting from the international sound practices and successful countries’ experiences to improve public debt governance in Egypt.
Among the main policy recommendations in this paper are:
Developing a consolidated legal framework for public debt management in Egypt that encompasses, for example, clear definition and scope of public debt, the purposes and sources of government borrowing, the public debt management objectives, and clear identification of the roles and responsibilities related to public debt management.
Increasing the capacity of the debt management unit and establishing an investor relations unit therein and continuing the efforts of reforming the medium-term debt management strategy through updating it on an annual basis and adding some important quantitative targets for formulating the public debt portfolio.
Continuing the efforts of enhancing the transparency and accountability aspects of public debt management through revisiting the definition of the general government and the scope of general government expenditure and debt, reforming state-owned enterprises’ data and financial statements in a way that helps to incorporate their debt obligations in the public debt.
Addressing the different fiscal risks that may affect the level of public debt
Check out INP’s latest policy paper of December, 2022, titled “Public Debt Governance Frameworks in Egypt: Current Challenges and Reform Measures” by Mohamed Zaky, Nada Azmy Elberry, Sherine Boshra Ghaly and Sally Diab
To read more of our Policy Papers Series