RUSSIA'S EXTERNAL DEBT MANAGEMENT: PROBLEMS AND AREAS FOR IMPROVEMENT

Abstract

The article analyzes the problems and justifies the directions of improving the management of Russia's external debt. The main feature of Russia's external debt is that most of the external debt falls on private Russian companies, i.e. corporate debt.The main institutional bodies of public debt management in the Russian Federation are defined. The dynamics of changes in the corporate debt of the Russian Federation from 2014 to 2020, as well as the impact of sanctions on the level of external obligations of the state, are analyzed. The factors of undermining financial stability in the field of external obligations of the corporate sector are identified. Under the current conditions, the policy of the Russian Federation aimed at paying off the external public debt is implemented quite effectively and does not have a large debt burden on the country's budget. At the same time, it should be noted that all the parameters of the socio-economic development of the Russian Federation do not reach the threshold value, and the debt stability in the state today is still outside the risk zone. The directions of implementation of the debt policy of the Russian Federation are determined, as well as the main methods of managing the state debt of the Russian Federation are systematized. A SWOT analysis of the external debt management of the Russian Federation was carried out. The objectives of the implementation of the debt policy of the Russian Federation in the current conditions and proposals for improving the system of public debt management in Russia are defined