Management of Municipal Debt

Student: Chulakova Olga

Faculty: Faculty of Economics, Management, and Business Informatics

Educational Programme: Public Administration (Master)

Final Grade: 7

Year of Graduation: 2017

Management of municipal debt is one of the most important components of the activities of local authorities. Inefficient management of municipal debt may lead to insolvency of the municipality. Understanding municipal debt as the aggregate of four kinds of debt liabilities, established by the budget legislation, does not meet modern realities when a significant portion of municipal debt liabilities arise on the basis of the court decisions. To improve the efficiency of managing the municipal debt it is necessary to develop techniques for the management of municipal debt and also consider the debt obligations of municipalities, the occurrence of which is not directly dependent on their will. Planning, accounting, risk assessment and calculation of cost of the debt should be made in respect of all debt of the municipality. Consistency and connection with the municipal administration in other areas are very important in the management of the municipal debt.

Full text (added May 24, 2017)

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