Implementing government accounting entities must not create any government
debts that exceed the debt ceiling approved in the budget, [and must] monitor
payments and ensure that scheduled payments are made to their suppliers in due time.
Unsettled payment orders or claims as at the reporting date shall be classified as
arrears. Details of arrears and the amount shall be reported to the supervisor or
designated person and the Ministry of Finance on a monthly basis.
The Ministry of Finance shall be responsible for recording, monitoring and
paying government liabilities by the due date. Debts not paid on the due date shall be
recorded as payables. It shall also monitor loans of state-owned/controlled enterprises
or mixed enterprises that are guaranteed by the government, and implement the
necessary sanctions for any default by those enterprises that cannot pay their debts.