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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of February 12, 2020 No. 127

About creation of the Agency on national debt management of Ukraine

 Cabinet of Ministers of Ukraine decides:

1. Form Agency on national debt management of Ukraine as the central executive body which realizes the state budget policy in the sphere of national debt management and the debt guaranteed by the state which activities go and coordinated by the Cabinet of Ministers of Ukraine through the Minister of Finance.

2. Approve Regulations on the agency on national debt management of Ukraine which are applied.

3. Determine that the rights and obligations of the Ministry of Finance in the sphere of national debt management and the debt guaranteed by the state, in particular according to earlier signed credit agreements (loan agreements), issued state debt securities provided to the state guarantees, agreements (agreements) on subcrediting, on debt repayment of borrowers before the state about attraction of the agency, consulting, rating, legal and other services connected with national debt management and the debt guaranteed by the state pass to national debt management Agency.

4. To the Ministry of Finance in two-month time together with Fund of state-owned property, the Kiev city public administration and with the assistance of National Bank to submit proposals to the Cabinet of Ministers of Ukraine concerning placement of the Agency on national debt management.

5. To the ministries, other central executive bodies to submit within two-month term to the Cabinet of Ministers of Ukraine offers concerning entering into acts of the legislation of the changes following from this resolution and also to bring own regulatory legal acts into accord with this resolution.

6. Make changes which are applied to resolutions of the Cabinet of Ministers of Ukraine.

7. This resolution becomes effective from the date of its publication, except Item of 3 changes which are made to resolutions of the Cabinet of Ministers of Ukraine, approved by this resolution which becomes effective after decision making of the Cabinet of Ministers of Ukraine about the beginning of activities of the Agency on national debt management.

Prime Minister of Ukraine

A. Goncharuk

Approved by the Resolution of the Cabinet of Ministers of Ukraine of February 12, 2020 No. 127

Regulations on the agency on national debt management of Ukraine

1. The agency on national debt management of Ukraine (The debt agency) is the central executive body which activities go and coordinated by the Cabinet of Ministers of Ukraine through the Minister of Finance and which realizes the state budget policy in the sphere of national debt management and the debt guaranteed by the state.

2. The debt agency in the activities is guided by the Constitution and the laws of Ukraine, presidential decrees of Ukraine and resolutions of the Verkhovna Rada of Ukraine accepted according to the Constitution and the laws of Ukraine, acts of the Cabinet of Ministers of Ukraine, other acts of the legislation.

3. The main objectives of the Debt agency are:

1) realization of the state budget policy in the sphere of national debt management and the debt guaranteed by the state;

2) submitting for examination of the Minister of Finance of offers concerning forming of the state budget policy in the sphere of national debt management and the debt guaranteed by the state.

4. The debt agency according to the tasks assigned to it:

1) generalizes practice of application of the legislation on the questions which are within its competence submits in accordance with the established procedure for consideration to the Minister of Finance of the offer concerning enhancement of legal acts, acts of the President of Ukraine and the Cabinet of Ministers of Ukraine, regulatory legal acts of the central executive bodies, and also submits to the Minister of Finance on coordination proposals concerning drafts of regulatory legal acts which developers are other central executive bodies;

2) develops drafts of the laws of Ukraine, acts of the President of Ukraine, the Cabinet of Ministers of Ukraine and the offer concerning other regulatory legal acts on the questions relating to field of activity of the Debt agency and in accordance with the established procedure gives them to the Minister of Finance;

3) risk management, connected with public debt and the debt guaranteed by the state exercises national debt management and the debt guaranteed by the state, including;

4) performs the state internal and external borrowings taking into account the medium-term strategy of national debt management for the corresponding period;

5) is issuer of the state debt securities of Ukraine, including government bonds, treasury obligations and the state derivatives of Ukraine;

6) interacts with primary dealers, approves procedure for selection and functioning of primary dealers;

Approves 7) and will promulgate the schedule of holding auctions for placement of the state debt securities in the domestic market which can be specified in connection with change of conditions of the state borrowings and/or environments of the financial market;

8) develops and updates prospectuses of issues of the state debt securities;

9) makes transactions with public debt, including exchange, release, purchase, the redemption and sale of the state debt obligations, use of derivatives and implementation of purchase transactions (sale) of securities with the obligation of their return sale (purchase) through certain term at in advance stipulated price which is performed on the basis of the single agreement (repo operations), in coordination with the Minister of Finance on condition of limiting observance of amount of public debt for the end of budget period;

10) exercises liquidity management of the single treasurer account and currency accounts of the budget, including places temporarily available funds of the single treasurer account and means of currency accounts of the government budget in coordination with the Minister of Finance;

11) is performed by operational accounting of public debt and the debt guaranteed by the state;

12) is conducted by the Register of public debt and the debt guaranteed by the state, the Register of the state guarantees and monthly publishes statements from them on own official website;

Prepares 13) and submits to the Ministry of Finance proposals to the forecast of the main macroindicators of economic and social development of Ukraine for the medium-term period, the Budget declaration and the medium-term strategy of national debt management for the corresponding period on the questions which are within the competence of the Debt agency;

14) submits to the Ministry of Finance proposals to the draft of the Government budget of Ukraine and the report on its accomplishment in the part concerning indicators of the state borrowings, servicing and repayment of public debt and the debt guaranteed by the state, provision of the state guarantees, implementation active transaction on national debt management and other questions which are within the competence of the Debt agency;

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