debt can be defined as debt obligations of public
authorities of different levels to individuals and legal
entities (residents and non-residents), foreign states,
international organizations and other subjects of
international law, including obligations under the
provided state guarantees.
Public Debt Management Concept
Public debt management in a broad sense is
understood as the formation of one of the directions
of the state's economic policy related to its activities
as a borrower.
In other words, public debt management is the
activities of the state carried out at the strategic and
tactical levels, represented by its authorized bodies
to regulate the volume, structure and cost of
servicing public debt obligations.
Public Debt Management Instruments for Changing the Terms of
Issued Loans (1)
•
a change in the original terms of the loan related to the yield.
Conversion
•
changes in the terms of loans associated with their terms. It is
possible to combine consolidation with conversion.
Consolidation
•
it is the consolidation of several loans into one, when bonds
of previously issued loans are exchanged for bonds of a new
loan.
Loan unification
•
when several previously issued bonds are equated to one
new bond.
Regressive bond exchange
Public Debt Management Instruments for Changing the
Terms of Issued Loans (2)
•
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