Thursday 31/October/2024 – 01:02 AM
The Prime Minister’s draft decision to reconstitute the committee for managing the external debt file and regulating external borrowing specified 4 terms of reference for the committee after the government approved it.
4 terms of reference of the external debt file management committee
The terms of reference of the Committee for Managing the External Debt File and Regulating External Borrowing are as follows:
– Managing the external debt file in an integrated manner that includes all its tools.
– Setting a maximum annual limit for external borrowing, determined in light of financial sustainability standards, and it is not permissible to deviate from it except in cases of extreme necessity, and with the approval of the Council of Ministers.
– Discussing alternatives to bridging the financing gap in foreign currencies from external sources, and determining the size of the required external borrowing, through various financing sources, not to exceed the maximum external borrowing (debt ceiling).
– Implementing a precise governance system to regulate the acquisition of all external debt instruments, according to an integrated institutional framework, similar to the system used in soft development loans.
