Debt Management Agency in Ukraine: A Comprehensive Approach to the Creation and Operation

Abstract

The article considers a comprehensive approach to the formation and operation of a debt agency in Ukraine based on international experience. Ensuring the full functioning of the Public Debt Management Agency of Ukraine in accordance with international best practices in order to increase the effectiveness of debt policy aimed at reducing the debt burden and reducing the cost of public debt service is one of the most important tasks of Ukraine's strategic development. Analysis of international experience shows that the creation of a debt agency, as a new structure, does not automatically guarantee increased efficiency of external public debt management. It depends on the qualifications of the staff, the structure of the country's public debt and the degree of influence of the agency's staff on the change in the debt burden. Quite a wide resonance in society on the creation of a debt agency in Ukraine, incomplete regulatory support of this process necessitates the definition of approaches to the creation of a debt agency of Ukraine and justification of its functional capacity, which is associated with: creating favorable conditions for the newly created debt agencies of Ukraine; introduction of mechanisms for monitoring and control over its activities and strengthening the interaction of various government agencies within the general government sector; increasing the efficiency and productivity of the debt agency.