Improving Public Debt Management
In the OIC Member Countries
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4 Public Debt Management in Individual OIC Member Countries This chapter examines public debt management practices in individual OIC member countries.
The first subchapter includes case studies for 15 OIC member countries. The first section of
each case study gives a short overview of public debt dynamics in the respective country. The
second section describes public debt management practices. The analysis refers to the World
Bank DeMPA Performance Indicators (see Table 11) and risk management guidelines from
the IMF (see Table 12). In the second part, the first subsections describe the legal framework
and the managerial structure of debt management, including coordination with other policies.
The section also describes debt reporting, contingent liabilities and transparency aspects. The
second subsections describe the debt management strategy, including risk management. The
third subsections give an overview of debt operations, including a discussion of Islamic finance
instruments used, and describes domestic borrowing. Based on the analysis of public debt
management practices in the individual countries, policy recommendations are provided. The
case studies are ordered by income groups: lowincome (Islamic Republic of The Gambia,
Republic of Mozambique, Togolese Republic and Republic of Uganda), lowermiddle income
(Arab Republic of Egypt, Republic of Indonesia, The Federal Republic of Nigeria and Republic
of the Sudan), uppermiddle income (Republic of Albania, Islamic Republic of Iran, Republic of
Kazakhstan, Lebanese Republic and Republic of Turkey) and high income (Sultanate of Oman
and Kingdom of Saudi Arabia). In the case studies, generally country short names are used.
The second subchapter compares public debt management practices among the case study
countries.
Finally, the third subchapter compares public debt management practices in countries with
Islamic finance systems with countries with conventional finance systems.