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Public debt management policy of the Russian federation for 2017–2019

Public debt management policy of the Russian federation for 2017–2019

Irrespective of the geopolitical and macroeconomic landscape, or the international and domestic market environment, the public debt policy during the period will be focused on ensuring the capability of the Russian Federation to borrow the amounts required to meet its social and economic objectives on conditions acceptable for the country as a reliable sovereign borrower, in terms of both price and structure. This will be supported by the permanent presence of Russia in the domestic and international debt capital markets, involving, inter alia, pursuance of a transparent and consistent auction policy, ongoing information exchange with the investment community and rating agencies, consistent increase in the number and range of investors interested in government securities of the Russian Federation, and further modernisation of the domestic debt market infrastructure. The actual public borrowing volume will depend on the performance of the federal budget and on the domestic and international market environment. Aggregate domestic and external debt levels will remain within a range precluding threats to the country’s debt sustainability. The debt policy will also be aimed at improving the country’s credit ratings and ensuring its unconditional solvency.