Treasury operations and transparency principle

Abstract

The state carries out three types of financial operations: operations conducted within the framework of the state's general budget, operations carried out within the framework of the treasury's special accounts and finally,operations conducted within the framework of treasury' operations. The latter is particularly significant as it aims at  the continuous  provision of cash liquidity at the right time and place in order to ensure that the state meets its financial obligations, addresses both temporary and structural imbalances in cash liquidity, and intervenes when necessary in certain aspects of economic activity.

These operations are characterized by a greater degree of ambiguity comprared to the others, as they fall within the intersection of legal and economic studies on the one hand, and the legal framework  governing them on the other.

From this perspective , treasury operations raise issues related to the ambiguity of their concept and content, the process of their management, and the information concerning their implementation. As a result , they are not sufficiently subject to the principle of transparency, which has become a fundamental pillar in establishing good governance.