News from August 17 says that the Asian Development Bank (ADB) has decided to give technical assistance to Pakistan worth USD 0.9 million. This is to help make Pakistan’s debt more manageable and transparent.
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As far as we know, the ADB’s Technical Assistance Special Fund will give grants to pay for the technical assistance (TASF 7). The government will help counterparts with things like office space, staff, secretarial help, and transportation within the country.
According to reports, the proposed technical assistance will help the country’s borrowing practises become more stable and open. The technical help will help improve how fiscal risk is managed, how public debt is recorded, managed, and reported, and how the Sustainable Development Finance Policy is put into place (SDFP).
Also, the ADB thought that Pakistan could handle its public debt. It was said that alignment with the SDFP principles of the International Development Association will make the ADB’s help with debt sustainability stronger (IDA). One of the main parts of SDFP, debt stability gives countries more reasons to move toward sustainable development financing.
Also, the ADB has pushed for policy reforms that help lessen the negative effects of accumulating debt through better macro-financial policy frameworks, stronger institute capacity for debt management, stronger domestic resource mobilization, and better public financial management systems that allow for more efficient spending of scarce fiscal resources.