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Regional Europe and Central Asia Public Officials Workshop on Financial Reporting for Debt and Investment Transparency
The Workshop hosted virtually about 90 participants from about 20 countries.
Since the COVID-19 outbreak, developing economies have suffered significant capital outflows, while at the same time facing historically high debt levels, which made it harder for these countries to rebound from the pandemic-related economic distress. To alleviate this situation, concessional debt is made available to many countries on an unprecedented scale in order to respond to the needs of citizens during the crisis, including through the debt service suspension initiative (DSSI), which has been made available to eligible countries through the G20 Action Plan.
Transparency of government financial liabilities and investments is a key step in managing public debt, creating an attractive investment climate, and reversing capital outflows.
This high-level consultative workshop drew on the results of the regional Debt and Investment Transparency survey, and global technical expertise, convened by the World Bank, to analyze key challenges and opportunities of improving debt and investment reporting and transparency processes and practices among European and Central Asia governments.
This workshop involved participation of government officials , the World Bank experts, and representatives of other international organizations and produced a set of concrete actions/recommendations, which could be carried forward by the governments and International Financial Institutions.