Experts propose to create a special agency for public debt management

In the context of limited access to foreign capital markets, a new approach to managing Russia’s public debt is required. This conclusion was made by the experts of the Center for Macroeconomic Analysis and Short-Term Forecasting (CMASF) in the report “On the Constraints of Fiscal Policy and Public Debt Management in the New Conditions”. In their opinion, one of the solutions could be the creation of a special debt agency, similar to the institutions that exist in the US, Germany and France.

Such an agency should become subordinate to the Ministry of Finance and be responsible for issuing and selling government bonds, managing credit risks, and determining a debt management strategy, the report says. With this approach, the main parameters of the state debt policy would still be determined by the Ministry of Finance, and the agency would develop specific measures and implement them, experts say.