The National Assembly has taken a significant step toward enhancing the financial governance of the state by approving amendments to the State Debt Law, according to Assembly Chairman Ashwin Adhin. The amendments, passed unanimously with 36 votes, aim to consolidate and professionalize the legal framework governing state debt. Adhin expressed gratitude to all members for their contributions, emphasizing their collaborative efforts in achieving a balanced approach. The revised law establishes strict conditions for exceeding the debt ceiling, requiring a debt strategy aligned with Article 15a. Additionally, the Minister of Finance & Planning must now submit an annual state debt plan alongside the state budget presentation. This provision links the budgetary cycle with debt management, reinforcing the Assembly’s oversight of the state’s macro-financial stability. Adhin highlighted the inclusion of a limited transition period in Article 28, which he described as a clear signal of budgetary discipline and timely debt normalization. The introduction of a Deputy Administrator-General at the State Debt Bureau was also noted as a crucial measure to ensure operational continuity and strengthen institutional capacity. Adhin stated that the law transforms debt management into a sustainable financial policy tool, guided by principles of transparency, parliamentary approval, and systematic debt reduction. However, he cautioned that the law addresses only the symptoms, not the root causes, of financial challenges. ‘The real solution lies in boosting production, exports, and revenue streams,’ Adhin asserted. ‘Only through the real economy can we achieve lasting financial sovereignty.’