The Cabinet of Ministers has approved procedures for drafting a medium-term strategy for managing governmental debt.
This is stated in the Cabinet of Ministers resolution No. 978 dated October 27.
"To approve procedures for drafting a medium-term strategy for managing governmental debt and monitoring its implementation," the document states.
The procedures outline the mechanism for drafting a strategy for managing governmental debt, which should determine the area of implementation of governmental debt-management policy over three years.
The strategy is to be drafted in six stages: analysis of the management of governmental debt in the preceding year; assessment of the risks related to governmental debt; determination of ways of solving problems involving management of governmental debt; forecasting and determination of guidelines for management of governmental debt; determination of the goals and tasks of management of governmental debt and measures to achieve the goals of the strategy; approval of the strategy.
The Finance Ministry is to draft the strategy annually by agreement with the Economy Ministry and approved by the Cabinet of Ministers within one month after adoption of the law on the state budget.
The strategy can be reviewed in case of significant changes to the macroeconomic indicators, the situation on the domestic market of governmental securities and the international capital market.
The Finance Ministry is to annually draft a report on implementation of the strategy together with a report on implementation of the state budget and submit them to the Cabinet of Ministers.
As Ukrainian News earlier reported, Ukraine’s external debt increased by 12.4% to USD 21.8 billion in September; the domestic debt reduced by 3.6% to UAH 128.9 billion.
This is stated in the Cabinet of Ministers resolution No. 978 dated October 27.
"To approve procedures for drafting a medium-term strategy for managing governmental debt and monitoring its implementation," the document states.
The procedures outline the mechanism for drafting a strategy for managing governmental debt, which should determine the area of implementation of governmental debt-management policy over three years.
The strategy is to be drafted in six stages: analysis of the management of governmental debt in the preceding year; assessment of the risks related to governmental debt; determination of ways of solving problems involving management of governmental debt; forecasting and determination of guidelines for management of governmental debt; determination of the goals and tasks of management of governmental debt and measures to achieve the goals of the strategy; approval of the strategy.
The Finance Ministry is to draft the strategy annually by agreement with the Economy Ministry and approved by the Cabinet of Ministers within one month after adoption of the law on the state budget.
The strategy can be reviewed in case of significant changes to the macroeconomic indicators, the situation on the domestic market of government securities and the international capital market.
The Finance Ministry is to annually draft a report on implementation of the strategy together with a report on implementation of the state budget and submit them to the Cabinet of Ministers.
As Ukrainian News earlier reported, Ukraine’s external debt increased by 12.4% to USD 21.8 billion in September; the domestic debt reduced by 3.6% to UAH 128.9 billion.
