SAI Finland releases audit report on central government debt management
The National Audit Office of Finland successfully completed its audit focused on central government debt management, combining performance audit and financial audit in the conduct thereof.
With the purpose of ensuring the appropriateness of the debt management and the prerequisites for economic, efficient, and effective operations, the 2021 audit report revealed that SAI Finland’s debt management strategy remained effective even during the Covid-19 crisis. However, considering the increase in interest rates and deterioration of market liquidity, SAI Finland resorted to private placements taking on EUR 7.35 billion of new long-term debt – an exceptional measure that the audit deemed as a reactive action implemented because of the crisis.
Full content of SAI Finland’s audit can be accessed here: