Section 16
of Public Finance and Fiscal Responsibility Act 2023
ActIn forceProvision 16 of 38
Section 16
(1)
The Minister is responsible for formulating and implementing borrowing and debt management policy of the Government in a responsible and prudent manner with the aim of ensuring debt affordability and sustainability.
(2)
The formulation of borrowing and debt management policy shall be based on the following objectives:
(a)
to ensure the borrowing and debt management obligations of the Government are met in a timely manner at the lowest possible cost with a reasonable degree of risk;
(6)
The Minister shall conduct programmes and projects evaluation in the medium term and report his findings and recommendations to the Cabinet.