The Chamber of Accounts of the Republic of Azerbaijan hosts the meeting of INTOSAI Working Group on Public Debt on May 23-25, 2019 in Baku.
Main aim of INTOSAI Working Group on Public Debt is SAI cooperation and continuous improvement through knowledge sharing, including providing benchmarks, conducting best practices studies and performing research on issues of mutual interest and concern.
In 2017 Commission on Audit of the Republic of Philippines assumed Chairmanship of Working Group, acting under the INTOSAI Knowledge Sharing Committee for 25 years and consisting of 34 SAI members.
On the first day of Baku meeting of Working Group attended by the delegation of 27 SAIs, Vugar Gulmammadov, the Chairman of the Chamber of Accounts greeted the guests and gave information on the aim and theme of the meeting, spoke about relevance of public debt management and audit during reforms for all countries and stated the significance of cooperation and knowledge sharing in public sector audit among states.
The Chairman of INTOSAI Working Group on Public Debt and Commission on Audit of the Republic of Philippines Michael G. Aguinaldo in his opening speech spoke about the role of multilateral and bilateral cooperation in the activity of the Supreme Audit Institutions and wished success in the work of the meeting. According to the approved agenda of the meeting the Chairman Michael G. Aguinaldo presented report on the activity of the Working Group
Later on, new members of INTOSAI Working Group on Public Debt and their representatives were presented.
Manager and Senior Analyst of Debt Management Facility of World Bank Lea Hakim, delegate of UNCTAD Stephanie Blankenburg, lecturer of ADA University, international trainer Elchin Rashidov made an interesting presentation on the subject of the meeting.
Elchin Rashidov , the lecturer of ADA University, international trainer on Project finance, Project assessment and expertise, statistic analysis of business noted in his presentation that, public debt is included in public finance and debt management should meet the need to increase the welfare.
During the meeting reports of Working Group on Public Debt Secretary, WGPD Work Plan for 2020-2022, summary of surveys conducted in October, 2018, speeches by experts on database of Public Debt Audit, Work Plan for 2017-2019 and web site are going to be discussed, and Task Team members will be appointed.
The meeting will continue its work tomorrow.