In a bid to tackle debt challenges in the country, the
The committee among its functions include advising the
Launching the committee,
"Allow me to appraise you on the mandate of the
Given the nature of its operations, PS Jallow said, his office would continue to work closely with the Treasury, Central Bank of The
He pointed further that significant progress has been made in the area of debt management, including the regular publication of the debt bulletin, the development of debt sustainability analysis and medium-term debt strategy and the integration of the domestic debt and external data into a single database.
Mod Ceesay, PS No2 at the
In order to have greater economic management, growth and stability, he opined that the committee needs to first coordinate the fiscal and monetary policy. He then reminded them of their responsibility to provide independent advisory guidance to the management on policy, strategy and policy matters.
"It's a performance benchmark required under the debt management performance assessment tool of the
For his part,
"As you may all know; we contract loans and debt from International, and Domestic sources. These Loans and Debt are indispensable instruments for economic growth and development in our country. Therefore, the creation of
He hinted on issues the committee will be deliberating on. These, he said, include debt capacity, which he said, are standard measurement for debt ratios that are used in comparing debt ratios to debt sustainability thresholds, and statement of economic conditions.
Darboe added that "accordingly, the aim of managing collective public sector indebtness will enable us to structure a more ambitious and dynamic investment programmes, such as the likes of Programme for Accelerated Growth and Employment (PAGE), and its successor programmes."
Public debt management, he stated, seeks to ensure that public sector can service its debt, while minimising cost in the long run. He maintained that this, on the other hand, minimises the cost to the economy of crises resulting from imprudent debt management.
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