Sharjah Public Finance Award hosts Public Debt Management Forum

The forum, titled "Managing Public Debt in a Changing World – Sustainable Strategies to Address Global Economic Challenges," aimed to exchange knowledge, experiences, and best practices in the field of public finance among participating countries.

This initiative seeks to strengthen the ability of these nations to tackle contemporary financial challenges. The forum featured a distinguished group of experts and officials who discussed the latest trends in public finance and highlighted government success stories in managing public debt, thereby fostering collaboration among nations to overcome financial challenges and enhance government financial performance.

The event was attended by His Excellency Waleed Al Sayegh, Director General of Sharjah Finance Department (SFD) and Member of the Board of Trustees; His Excellency Sheikh Rashid bin Saqr Al Qasimi, Secretary-General of the Award and Director of the Sharjah Finance Department; His Excellency Dr Nasser Al-Hatlan Al-Qahtani, Director General of the Arab Organisation for Administrative Development – League of Arab States, alongside ministers, government officials, and numerous speakers and participants from Turkey, the host country, as well as representatives from ministries of finance, public debt departments, banks, financial organizations, and international experts from Arab and other countries involved in the forum and the award.

A platform for excellence

In his keynote address, His Excellency Sheikh Rashid bin Saqr Al Qasimi, Secretary-General of the Award and Director of the Sharjah Finance Department, emphasized the importance of fostering Arab cooperation in public finance in light of the increasing global economic challenges. He stated that the forum served as an ideal platform for exchanging knowledge and best practices between Arab nations and sharing success stories in managing public debt and achieving financial leadership.

His Excellency expressed his delight at the forum’s success, noting that reviewing government success stories in managing public debt reflects the commitment to developing government financial performance and adapting to rapid economic changes. This contributes to enhancing transparency and efficiency in managing financial resources.

He added, “The Sharjah Public Finance Award, by recognizing distinguished efforts, represents an incentive for governmental bodies and individuals in the Arab world to achieve the highest standards of excellence in public finance, aligning with the sustainable development goals and developing financial strategies.”

He also highlighted that the award provides an opportunity to honor efforts that elevate government financial work and promote higher levels of transparency and professionalism. The award will inspire both individuals and institutions in the UAE and the Arab world to achieve greater success and excellence in public finance, contributing to comprehensive development and economic prosperity. Furthermore, it will encourage many countries participating in the forum to strive for excellence in their financial institutions, fostering sustainable development goals and innovative solutions to tackle public debt challenges in an evolving global environment.

Strengthening cooperation for a sustainable financial future

His Excellency Dr Nasser Al Hatlan Al Qahtani, Director General of ARADO and Vice Chairman of the Board of Trustees, emphasized that the forum addresses multiple economic challenges faced by countries, especially those in need of continuous support. He noted that the Sharjah Public Finance Award and its partnership with the Arab Organization for Administrative Development exemplifies a model for achieving excellence in public finance to confront these challenges. The forum aims to improve government financial performance and support national economies through a financial environment characterized by efficiency and sustainability.

Dr Al-Hatlan Al-Qahtani expressed, “We look forward to continuing this forum as a platform for encouraging innovation and excellence in public finance and strengthening financial cooperation between Arab countries and participating nations. This collaboration will help realize the financial aspirations of governments and their developmental goals.”

He also explained the organization’s role in managing various Arab awards and its capacity-building and developmental role in organizing events and activities that contribute to enhancing government work across Arab countries. Dr Al-Hatlan affirmed that these financial events will continue on the sidelines of the Award, stimulating participants to contribute positively to developing government financial work in the Arab world.

Forum sessions

The forum’s activities began with an introduction to the Sharjah Public Finance Award and opening remarks. This was followed by the forum's main session, which featured speeches by His Excellency Yasser Sobhi, Deputy Minister of Finance of Egypt; His Excellency Dr Mahmoud Mohieddin, Special Envoy of the UN on Financing the 2030 Agenda for Sustainable Development; His Excellency Dr Mohamed Maait, Executive Director and Representative of the Arab and Maldives Group at the IMF; and Dr Abdullah Khaled bin Rabian, Financial and Economic Consultant from Saudi Arabia. The speakers discussed advanced strategies for managing public debt and the factors impacting sustainability in light of the changing economic landscape, offering practical solutions for successful public debt management. The session was moderated by Dr Nasser Al-Hatlan Al-Qahtani.

The forum’s program also featured discussions on successful public debt management projects by some Arab governments and Sharjah, along with dealing with the economic challenges of the Organisation of Islamic Cooperation (OIC) member states. Several key topics were covered, addressing challenges related to geopolitical shifts, the return of nationalism, trade wars, inflation, and chronic debt. A number of experts, specialists, and researchers presented papers on public debt management and public finance, and Dr Hassan Diab delivered the forum’s concluding statement.