The Cabinet of Ministers has given approval to draft a bill for the State Loan Management Act, which will establish the National Debt Management Institute.
This move is part of the government's efforts to reform loan management and increase transparency. In the 2022 supplementary budget, the importance of establishing a State Loan Management Institute was emphasized.
The government recognizes that loan management is a priority sector, even under the International Monetary Fund's loan facility.
The International Monetary Fund and the World Bank have provided technical assistance to help establish the proposed state loan management institute. Plans for loan management reform, as well as the institutional and legal framework, are currently being developed.
As a result, the Cabinet of Ministers has approved a resolution put forth by the State Minister of Finance. This resolution directs the Legal Draftsman to draft the bill for the State Loan Management Act
