The Government Approved Decision on Establishment of the Debt Management Office

The creation of the Ukrainian Debt Management Office has been officially launched. On February the 12th 2020, the Ukrainian Government has adopted a resolution on creation of the Debt Management Office as a central executive body.

The creation of the Debt Management Office is a necessary condition to achieve the Government's strategic plan to manage public debt efficiently and to decrease debt-servicing costs. The institutional capacity of the Debt Management Office will allow using debt management instruments more effectively and comprehensively, as well as allow using advanced liquidity management tools and up-to-date market instruments.

The model of public debt management trough a separate executive agency proved to be a successful practice of such EU countries like Austria, Belgium, the Netherlands, Germany, Sweden and others.

The Government's Action Plan provides for the adoption of the regulatory support of the DMO's activity by July 2020. The registration of the legal entity is scheduled no later than September 1, 2020. By the time the office starts its work, the authority to implement debt policy remains with the Ministry of Finance.