The Government Supports the Establishment of the Debt Agency of Ukraine

Today, on September 6, the Cabinet of Ministers approved the draft law on establishing the Debt Agency of Ukraine. This central executive body with a special status will be responsible for the implementation of the state budgetary policy in the sphere of national debt management and the government-backed debt.
 
The draft law was developed on the basis of international experience and in consultation with experts. The document sets out the main tasks of the Agency and establishes a clear division of functions between the new institution and the Ministry of Finance of Ukraine. 
 
The creation of the Agency is envisaged by the Medium-Term Strategy for the National Debt Management for 2019-2022. The introduction of an agency model will help to manage public finances more effectively. Moreover, this step will reduce the impact of the political factor on the national debt management process and increase the level of transparency through effective control and reporting mechanisms. 
 
The full launch of the Debt Agency of Ukraine will begin after the adoption of the relevant draft law by the parliament.