Public Debt Management Experience: The Case of EECCA Countries

The aim of this study is to cluster the most widely used public debt management tools peculiar EECCA (Eastern Europe, Caucasus, and Central Asia) markets. Overall, results show that volume countries’ relative GDP declined from 2000 2015. However, as their enhanced after 2016 until 2020, inclusive, need choose proper for its intensified. main cause in countries state budget deficit (Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Uzbekistan). second place was taken by balance payments (Armenia, Belarus). only unique country Azerbaijan, since it likely use finance economic infrastructure development projects. No less interesting not all member states generate internal debt. Uzbekistan have external exclusively due lack free resources can be attracted within economy. In general, investigation revealed tool managing bonds issued national foreign currencies. As management, top position international loans. has two limitations: methodological implementation. Other macroeconomic indicators were considered, even though they may change assessment effectiveness selected management. Meanwhile, applied those whose financial market already formed who access Otherwise, are limited.