2026 Perspectives for the Public Sector

4 Welcome Stephanie von Friedeburg 6 Fueling Defense: The Financial Front Michael Paulus, Georgi Yordanov, Andrew Park, Josefina Rochette, Ana Holzbacher Trius, Natalie Tsui and Tobias Cheung 12 Strategic Stewardship in Uncertain Geopolitical and Economic Times: Maximizing Liquidity and Impact in the Public and Philanthropic Sectors Dustin Ling and Mark Zdunek 18 HowDebt Conversions are Evolving with the Times Jorge Ordonez, Chris Tynan and Amanda Helfrich 24 Energy Access in Africa Jorge Rubio, Eugene Amusin and Mwende Muvea 28 FromVulnerability to Viability: Best Practices and Financial Instruments for State-Owned Enterprises Hanan Amin-Salem, Gerard Arabian, Reid Fennerty, Karim Soubra and Harris LaTeef 36 Changing Dynamics of Development Finance Chris Tynan 42 The Legislative Landscape: Shaping Stablecoins and Tokenization in the Digital Asset Era John Finnigan, Andy Taylor, Ryan Rugg and Karl Haddeland 46 Tokenizing Public Sector Debt: Reimagining the Bond Lifecycle from Issuance to Custody Dustin Ling, David Jones, Michaela Carroll and Zion Miller 54 Deepening Africa’s Domestic Debt Capital Markets: The Cornerstone of Sovereign Resilience Hackim Abdul and George Asante