1、PUBLIC SECTOR DEBT OUTLOOK 2023THE SE ARCH FOR DEMAND AND LIQUIDIT YSovereign DebtInstituteSovereign DebtInstitute OMFIF.ORG/SDI3YOUR GREAT IDEASSHOULDAND WILLCOMETO LIFEWITH US ON YOUR SIDE*Awarded by Euromoney for 2022.Societe Generale is a Societe Anonyme,with its registered office at 29 Boulevar

2、d Haussmann,75009,Paris.Societe Generale is a French credit institution(bank)authorised and supervised by the European Central Bank(ECB)and the Autorit de Contrle Prudentiel et de Rsolution(the French Prudential Control and Resolution Authority)(ACPR)and regulated by the Autorit des Marchs Financier

3、s(the French financial markets regulator)(AMF).This communication is not directed at or intended for retail clients.January 2023.Societe Generale,awarded Best Bank for Sustainable Finance in Africa*,brings you innovative finance solutions to meet your ambitions for a more sustainable future.ADVISORY

4、 INVESTMENT BANKING FINANCING MARKETS TRANSACTION BANKING SECURITIES SERVICES EQUIPMENT FINANCE FLEET AND MOBILITY SOLUTIONS728523A_243356_OMFIF_A4_Wholesale typo.indd 1728523A_243356_OMFIF_A4_Wholesale typo.indd 120/01/2023 16:30:3020/01/2023 16:30:304 Executive summary The search for demand and li

5、quidity6 Sponsors comment Energy crisis and geopolitics underpin negative credit outlook for euro area sovereigns in 2023.By Heiko Peters,Moodys Investors Service8 Chapter 1:LiquidityDMOs eye more incentives for primary dealers to boost liquidity13 Sponsors comment Innovation will be key for African

6、 sovereigns in the international bond markets in 2023.By Karim Elzein,Societe Generale14 Chapter 2:ESGSSAs must become more innovative with GSS issuance18Chapter 3:DatabankGlobal SSA rankings 2022481418PUBLIC SECTOR DEBT OUTLOOK 2023 OMFIF.ORG/SDI5PUBLIC sector borrowers face a raft of challenges in