30 May 2024 01:19 PM

Finance ministry works under integrated strategy to manage debt

Thursday، 18 April 2024 - 12:42 PM

 Finance Minister Mohamed Maait asserted that the Ministry of Finance is working according to an integrated strategy to manage debt and decrease its rates to less than 80% by 2027.


It is also working to extend the average debt age from around 3 years in June 2023 to 4.5 or 5 years in June 2028 to ease the burdens and cost of debt service via decreasing the short-term publications and transferring to medium-term and long-term publications, he said.


Maait's remarks came in press statements on the sidelines of Spring meetings of the World Bank and the International Monetary Fund in Washington.


He pointed out to reimbursing all financial commitments on their due dates, adding that the recent currency flow and that expected from the IMF-supported economic reform program help in easing the funding pressures and decreasing the need of swift funding.


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