Denzel directed the comprehensive review and assessment of past, current, and projected direct fiscal support and indirect quasi-fiscal deficits, lending and guarantees, as well as the structural factors contributing to these direct and indirect public financial obligations to the sector. He led an internal team to develop a consolidated financial model for the sector to assess the efficient cost of service and the financial performance of sector entities. Based on this analysis, he made recommendations for addressing the financial obligations to the sector, in line with the objectives of medium term fiscal consolidation.