But the new details suggest that the government’s plans are beyond bringing the Debt Office under the additional secretary’s control. Mohib suggested that there should be one debt management office that should be responsible for policy and determining the overall debt level and its cost and structure. Pakistan’s debt-to-gross domestic product (GDP) ratio remains very high that underscores the need for better debt management. Making fiscal policy statement and doing debt sustainability analysis is not the job of the debt policy office, World Bank officials said, adding that the debt management should be part of the core government. “The debt recording terminal will be shifted to the new Debt Office for the purpose of domestic and external debt recording.

Source: The Express Tribune April 03, 2020 02:48 UTC