№ 3/2021

№ 3/2021

Nauk. pr. NDFI 2021 (3): 5–22https://doi.org/10.33763/npndfi2021.03.005

PUBLIC FINANCES

BOHDAN Tetiana ¹

¹NGO “Growford Institute”
OrcID ID : https://orcid.org/0000-0002-6133-5336

Harmonization of statistical analysis and accounting of public debt in Ukraine with the international standard PSDS

Article deals with the problems of application of international standards GFS та PSDS for accounting of liabilities and compilation of reports on the amounts and structure of public debt in Ukraine. Key principles and rules of the PSDS standard are summarized as a comprehensive conceptual basis for a measurement of public sector’s gross and net debts, as well as its components by different classification criteria. The key discrepancies in methodological approaches to definition (measurement) and classification of public debt in the framework of PSDS standard and Ukraine’s national debt statistics are revealed. Author argues the necessity to implement PSDS standard in the practice of public debt management in Ukraine that will serve as a conceptual and accounting basis for the fiscal policy analysis and assessments, for evaluation of the public sector activity and for analysis of debt liabilities as the risk exposures for national finances. Author apply the aggregation method, analysis and synthesis, logical, historical methods and method of comparisons for this research. On the basis of extensive investigation, author suggest the following: necessity for incorporating the categories of net and gross debt of the public sector in the Ukraine’s debt statistics; extension of the scope of debt statistics from the budgetary central government to the general government sector and the public sector thereafter; division of the public sector debt on domestic and foreign on the basis of lender’s residency criterion; coverage of 6 types of debt instruments by debt statistics (monetary gold and SDRs, currency and deposits, loans, debt securities, pension, insurance schemes and state guarantees, accounts payables); application of different approaches to various types of government guarantees; as well as parallel accounting of debt instruments on the market and nominal values (including the accrued interests).

Keywords:public sector debt, PSDS standard, accounting, debt classification, debt instruments

JEL: H63, H83, H87

BOHDAN T. . Harmonization of statistical analysis and accounting of public debt in Ukraine with the international standard PSDS / T. . BOHDAN // Наукові праці НДФІ. - 2021. - № 3. - C. 5-22.

Article original in Ukrainian (pp. 5 - 22)

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