Overview

The legal regulation of a State debt and State-guaranteed debt, Local debt and Local-guaranteed debt in Ukraine is
carried out in accordance with the Constitution of Ukraine, the Budget Code of Ukraine and other legal acts in the field of debt management.

The Ministry of Finance of Ukraine is responsible for the management of State debt and State-guaranteed debt within the limits of the powers determined by the legislation of Ukraine, including the following responsibilities:

• to develop and approve regulations on debt management;
• to manage the risks associated with the state debt;
• to provide forecasts on the state budget financing;
• to execute state domestic and external borrowings within the limits defined by Law of the State Budget of Ukraine;
• to keep current accounting of the state and state-guaranteed debt;
• to maintain a register of state guarantees;
• to ensure redemption and debt-service payments of the state debt;
• to carry out transactions with state debt, including the exchange, issue, purchase, redemption and sale of the state debt, subject to compliance with the target maximum amount of state debt at the end of the budget period;
• to perform at the open auctions the sale of rights to claim overdue indebtedness for more than three years to the state by the borrowers in the order established by the Cabinet of Ministers of Ukraine;
• to implement measures aimed at increasing the attractiveness of investment in Ukrainian government securities and comprehensive measures aimed at improving the credit ratings of Ukraine;
• to approve the procedure for the selection and operation of primary dealers;
• to approve and to publish the schedule of the primary auctions of state securities.

In accordance with the legislation of Ukraine the Ministry of Finance of Ukraine is also responsible for:

• commitment by the decision of the Cabinet of Ministers of Ukraine transactions to provide state guarantees to secure the full or partial fulfillment of debt obligations of Ukrainian resident business entities solely within the limits specified by the Law on the State Budget of Ukraine;
• approval of the domestic long-term (over one year) and external borrowings’ attraction and guarantees’ obtaining by the state enterprises;
• approval of the volume and terms of local borrowings and local guarantees.