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THE WORLD EXPERIENCE OF THE NATIONAL DEBT MANAGEMENT AGENCIES’ FUNCTIONING

At the present stage of economic development, the problem of effective management of the external debt plays a key role for the balanced development of the country. One of the important social and economic tasks is timely service of the public debt with the minimum expenses, identification, hedging and prevention of the financial risks on the basis of the analysis and the forecast of the internal and external economic factors. In the conditions of essential increase of the external debt and reduction of the opportunities of the countries for the debt obligations refinancing the paramount value is gained by the policy of the public debt of management, directed on minimization of the expenses on its service by means of the optimum choice of the debt methods and tools. Thus the debt policy has to be directed on the prevention of the peaks of the debt payments for the purpose of prevention of crises of liquidity or solvency of the state. In a number of the states agencies on debt management for the timely acceptance of the anticipatory actions and a choice of the most suitable option of debt policy allowing to lower the debt load on the economy are created.

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