SAI Philippines leads international meet on global trends in public debt management
COA chairperson Gamaliel Cordoba speaks during the 2025 AnnualMeeting of the International Organization of Supreme Audit Institutions (INTOSAI) Working Group on Public Debt (WGPD) held in Bucharest, Romania PHOTO FROM COA
MANILA, Philippines—The Commission on Audit (COA), the Supreme Audit Institution (SAI) of the Philippines led the 2025 Annual Meeting of the International Organization of Supreme Audit Institutions (INTOSAI) Working Group on Public Debt (WGPD) held in Bucharest, Romania recently.
COA Chairperson Gamaliel A. Cordoba led the hybrid meeting, which focused on the theme “Global Trends in Public Debt Management Practices and the Role of SAIs.”
This year’s meeting aims to foster collaboration and knowledge sharing among SAIs and partner stakeholders.
It also highlighted best practices and initiatives that enhance public debt and debt management and how SAIs should respond.
Hosted by the Romanian Court of Accounts, the meet was participated in by officials and experts from the SAIs of Qatar, North Macedonia, Lithuania, Kuwait, Pakistan, China, Thailand, Austria, Brazil, Türkiye, Egypt, Georgia, Portugal, Zambia, India, Kenya, Moldova, Seychelles, Jordan, Argentina, Ukraine, USGAO, and the Philippines.
Also there were experts from the International Monetary Fund.
Cordoba emphasized the contributions of SAIs in enhancing transparency, accountability and protection of the public interest.
“This year’s agenda has been carefully structured to foster discussion and collaboration around emerging trends in public debt management and the evolving role of SAIs,” he said at the meet.
“We hope to raise awareness of new practices and developments, encourage knowledge sharing, and strengthen cooperation both within and beyond the SAI community,” he added..
Mihai Busuioc, head of the Romanian Court of Accounts, said “through independent and well-founded audits, we can warn ahead of time about imbalances and contribute to the growth of fiscal discipline.”
The discussions and presentations promoted awareness of evolving trends and practices that impact public debt and debt management.
These include climate change and public debt;climate finance and its instruments; sustainability reporting; integrating environmental, social, and governance (ESG) factors in public debt management and in SAIs’ audits.
The WGPD’s mandate stems from one of the three Goal Committees of the INTOSAI Knowledge Sharing and Knowledge Services.
It is tasked with preparing and publishing guidelines and other materials for use by SAIs to encourage the proper reporting and sound management of public debt.
It would also identify key issues for the development of responsibilities and procedures for auditing and evaluating public debt commitments.
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