Post by dracon on Sept 8, 2009 7:40:47 GMT 4
The UAE Ministry of Finance has set up a unit responsible for managing public debt, the official state news agency WAM reported on Monday, September 8, 2009.
The unit's establishment reflects the UAE's "commitment to preparing the way towards the development of a healthy debt market to provide financing at the lowest cost and at acceptable risk levels", Nadia Sultan from the Department of Financial Operations said in a statement, according to WAM.
The unit, one of three forming the debt management bureau which answers to the finance minister, will have responsibilities including strategy and coming up with alternative financing scenarios, as well as implementing the debt department's plans.
The unit's establishment reflects the UAE's "commitment to preparing the way towards the development of a healthy debt market to provide financing at the lowest cost and at acceptable risk levels", Nadia Sultan from the Department of Financial Operations said in a statement, according to WAM.
The unit, one of three forming the debt management bureau which answers to the finance minister, will have responsibilities including strategy and coming up with alternative financing scenarios, as well as implementing the debt department's plans.