Public Debt Management - Fiscal Year 2026
Egypt
MTDS Formulation and implementation (May 25-29)
A joint METAC/World Bank mission trained staff from the Ministry of Finance’s debt management unit on the use of the medium-term debt management strategy (MTDS) framework, its Analytical Tool (AT), and the interpretation of the outputs and results. It also addressed shortcomings in the authorities’ practices for the design of their debt management strategy and provided guidance for its successful development and implementation. The mission provided an overview of the MTDS framework, including linkages with the fiscal framework and addressed the participants' knowledge gaps in MTDS design. Additionally, it trained participants in data preparation for use in the MTDS AT and in forward-looking debt portfolio risk analysis and exploring feasible alternative financing options and cost-risk tradeoffs, paying attention to the MTDS methodology.
Djibouti
Strengthening the Institutional Framework for Public Debt Management
In September, METAC supported the Ministry of Budget in strengthening the institutional framework for public debt management by supporting the National Committee of Public Debt (CNEP) and improving coordination. The mission assisted the authorities in drafting a procedures manual and identifying practical steps to make the CNEP and its technical commission fully operational for effective debt management decisions. The mission also trained staff to interpret financial terms, assess loan costs and risks, and evaluate concessionality.
MTDS Formulation and Implementation
A joint METAC/World Bank/UNCTAD mission in October trained staff from the debt management directorate within the ministry of budget on the use of the medium-term debt management strategy (MTDS) framework and its Analytical Tool, and the interpretation of the outputs and results. It trained participants in data preparation for the Analytical Tool, the use of forward-looking debt portfolio risk analysis and exploring feasible alternative financing options and cost-risk tradeoffs. It also assisted the authorities in developing a debt management strategy for the first time.
Iraq
Strengthening debt portfolio management capacity
(June 15-19)
A virtual mission trained debt managers on the best practices in public debt management and financial analysis of public debt portfolios and debt instruments. The training focused on presenting financial mathematic concepts commonly used in public debt management, presented issues related to debt portfolio risk management, discussed the relationship between debt portfolio risk management and debt management strategy and covered some issues related to domestic debt market development, i.e., essential characteristics of government securities, auction methods, key players, and prerequisites for developing the government securities market.
Developing the Domestic Market for Government Securities
In September, METAC assisted the Ministry of Finance and the Central Bank of Iraq in assessing current practices and frameworks of the domestic government securities market and supported the authorities in drafting an action plan for further development. The recommended reform plan provides a medium-term framework for market development. METAC will continue to offer support for the implementation of the approved reform plan to facilitate the establishment of an effective primary market, with issuance conducted through market-based mechanisms.
Jordan
Local Currency Bond Market (LCBM) development (July 21-31)
METAC supported the Central Bank of Jordan (CBJ) and the Ministry of Finance (MoF) in assessing the level of LCBM development and identify the key challenges in implementing the building blocks of the domestic government debt market, using the IMF/WB LCBM diagnostic framework and formulating a sequenced reform plan for its deepening. The structured diagnosis and reform plan covers the following areas: i) legal and regulatory framework; ii) money market; iii) primary market; iv) secondary market; v) investor base; and vi) financial market infrastructure. The reform plan will serve as a medium-term roadmap for market development. METAC will be available to continue supporting the authorities in implementing the approved reform plan.
