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Public debt administration and the efficiency of Central Government funding by Agence France Trésor (AFT)


Created on 8 February 2001, AFT is responsible for Central Government debt administration. It has three objectives: the issue of securities (governed each year by the Budget Act), the minimisation of the cost of these issues and the management of the related risks. Although its robust strategy enabled it to cope with the increase in net borrowing during the health crisis, the Court of Accounts invites AFT to strengthen its strategic analysis in the face of the emergence of new challenges (such as the gradual withdrawal from Eurosystem purchases), to communicate more on its strategy and to strengthen cooperation between public issuers.

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