Iraq and the World Bank hold a workshop to develop public debt management

06/14/2022
  
Economy News-Baghdad

On Monday, the Ministry of Finance conducted a workshop on "Developing Public Debt Management" in coordination with the World Bank, while the ministry indicated that the workshop comes within the framework of a joint action plan with the Reform, Recovery and Reconstruction Fund for Iraq. 

And the ministry stated in a statement that “Nass” received a copy of it (June 13, 2022), that “under the guidance and follow-up of Minister of Finance Ali Abdel Amir Allawi, the Ministry of Finance held today, Monday, June 13, 2022, a workshop to develop the work of the Public Debt and Debt Management Department in accordance with international standards.” Modern, in cooperation with the World Bank, and with the participation of a group of specialists and experts in aspects of public debt management. 

The statement added that, "during which, views and views were exchanged regarding the tasks and priorities of debt management in Iraq, and the diagnosis of strengths and weaknesses towards achieving an ideal and solid level of performance, in line with international quality standards and requirements," explaining that "the workshop comes within the framework of a joint action plan with The Iraq Reform, Recovery and Reconstruction Fund, funded by donor countries over the next two years. 

The ministry indicated that "the workshop is one of the first fruits of efforts to advance the management of the public debt department, and a nucleus for constructive cooperation between the Iraqi Ministry of Finance and the World Bank in the development of the institutional structure and legal frameworks, in addition to refining the skills and experiences of debt management personnel, and achieving high levels of efficiency, performance and transparency. ". 

The workshop discussed, according to the statement, "the potential risk management aspect of the issue of public debt, both internal and external, as well as managing sovereign guarantees, raising the level of submitted reports related to the work of the Ministry of Finance, and measuring their quality to be able to strengthen the pillars of the Iraqi economy and possess real buffers to confront financial and economic shocks." 

The statement continued, "The process of developing the public debt strategy is among the priorities of the reform plan (the white paper), and within the framework of the Ministry of Finance's continued commitment to developing the rational management of financial resources and promoting sustainable and balanced development."

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