The financial and risk management are integral parts of public debt management, and are common in Western countries; the use of innovative financial securities for these purposes, such as interest rate swaps, forces sovereign states to behave in a more credible way, from a financial point of view, and moves toward a greater degree of transparency of accounting rules. The Governmental Accounting Standard Board (GASB) project to improve the transparency of present accounting rules for these innovative securities goes in the direction of introducing proper risk management and better market procedures, in order to increase financial stability in the interest of all market players.