The National Debt Act aims to provide the state with streamlined access to debt and similar financial mechanisms, both domestically and internationally, while maintaining robust financial safeguards and minimising debt servicing costs. It is designed to ensure that borrowing is undertaken responsibly, with minimal long-term impact on the country’s fiscal and financial systems, economic development, and the well-being of future generations.

The Act also outlines strategies for achieving mid-term debt management objectives, specifying the financial instruments that can be used to secure financing. Additionally, it establishes transparency mechanisms to ensure accountability in debt management practices.