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Primarily intended users of the Guide are auditors and supreme audit institutions (SAIs) who possess little or no knowledge and experience of public debt auditing. SAI auditors who are completely new to public debt management auditing are advised to first build their understanding of the subject of public debt before using this guide. One option for this would be study the IDI's training materials on public debt management auditing. Auditors who already possess knowledge of public debt issues or who have experience in public debt auditing can use this guide to scope their public debt management audits and develop their audit work plans.

Egypt's Revolution has cost the country, up to September, US$9.79 billion, according to a report issued by consultancy group Geopolicity. Titled "The cost of the Arab spring & Roadmap for G20/UN support", the report shows results of a costing exercise undertaken by Geopolicity, based on data from the International Monetary Fund (IMF). It accounts for the impact of productivity losses on GDP and public finance, but excludes losses to human life, infrastructure damage and business and foreign direct investment losses. The near 10 billion dollars shed by Egypt are divided among the $4.27 billion cost to GDP and $5.52 billion in lost public finances.

Reports revealed new details in the on-going investigation of government privatizing and selling public-sector companies for less than their predetermined prices. These reports, compiled by the Public Funds Prosecution and the Administrative Supervisory Authority, suggest that Gamal Mubarak, son of deposed President Hosni Mubarak, Atef Ebeid, the former Prime Minister, and nine former ministers, wasted some LE7 billion in privatizing 11of 19 public-sector companies.

Maria-Lucia Fattorelli, Member of Ecuador Debt Audit Commission

"For it is precisely the current lack of democratic accountability that make the banks' stated aims achievable"

A glance at Egypt's public finances reveals a disturbing fact: the interest that the country pays on its foreign loans is larger than its budget for education, healthcare, and housing combined. Indeed, these debt-service costs alone account for 22 percent of the Egyptian government's total expenditures.

publication on the process of auditing Irish debt

Paper published by UNICTAD in 2007

The loan, reported by state news media on Wednesday, appeared to be part of a broad public relations campaign. Faced with criticism of its reluctance to turn over power and its brutal treatment of protesters, the ruling military council is apparently trying to show it is helping alleviate Egyptians' financial distress.

Presentation

"the Bank tends to threaten rather than improve food security " Breaking Up? A Route Out of the Eurozone Crisis 13 January In late June, the Egyptian Ministry of Finance turned down a $3 billion loan package from the IMF, citing the rejection as a response to "public debate".

Policy Brief

Economic Crisis in Egypt: Enter the IMF Mohsin S. Khan discusses why Egypt has reluctantly turned to the International Monetary Fund for help and the outlook for negotiations to rescue its economy. Transcript of interview recorded February 1, 2012. © Peterson Institute for International Economics.

Egypt has a budget deficit of nearly 10 percent of GDP and the finance minister recently said that the country is on the brink of a liquidity crisis. Meanwhile, economic growth has slowed since the uprising, decreasing government revenues, while public sector workers around the country are striking to raise wages that have been stagnant for decades.