Роль и значение государственных финансов в решении социально-экономических задач

an agreement between the borrower and the lender to replace the 
obligation under the specified financial loan with another obligation.
Novation
•
is carried out in conditions when the further active development of 
operations for the issue of new loans does not have financial activity. 
For example, when the government has already issued too many 
loans and the terms of their issue were not favorable enough for the 
government.
Deferral of repayment of loans or all previously issued 
loans
•
a measure as a result of which the state completely refuses 
obligations on issued loans (internal, external, or for the entire public 
debt as a whole). Cancellation is carried out due to the bankruptcy of 
the state (default), or the coming to power of new political forces that 
refuse to recognize the debts of the previous authorities.
Cancellation of public debt

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