Experience of Managing External Public Debt in Foreign Countries and Prospects for Its Implementation in Ukraine

Анотація

The proposed scientific article is concerned with the topical issue of the management of public debt at the current stage of the development of Ukraine’s economy. The article is aimed at studying the experience of foreign countries in managing public debt and developing practical recommendations to improve the management of Ukraine’s external public debt. The essence of the concept of «external debt» is considered, statistics on the volume of government borrowings in the foreign countries are analyzed, and ways of improving the mechanism of management of Ukraine’s external public debt are proposed. Key priorities for applying foreign experience to stimulate economic growth in Ukraine have been defined. The main regulatory changes are considered, in particular changes to the Budget Code, which provide for the creation of the Debt Agency of Ukraine, with the following tasks: management of public debt and the risks associated with it; implementation of public internal and external borrowings; other tasks that would come under its jurisdiction. Prospects for further research in this direction is the improvement of the regulatory framework governing the debt policy in Ukraine and the implementation of a holistic strategy for managing the external public debt.

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