The Ministry of Finance of Ukraine Improves Automation and Planning in Public Debt Management - Implementation of Recommendations

In accordance with the recommendations of the Accounting Chamber of Ukraine, issued following the compliance audit “Public Debt Management”, the Ministry of Finance of Ukraine has taken a number of measures to improve the automation and planning of debt and liquidity management processes, as well as reporting in this area.

The audit covered the Ministry of Finance’s public debt management activities in 2023-2024 and the first half of 2025. The auditors identified a number of gaps, including shortcomings in forecasting, planning, coordination and public debt management, which weakened the Ministry’s ability to manage these processes in full compliance with the applicable regulatory framework and established international practices.

Based on the results of the audit, the Accounting Chamber of Ukraine issued 15 recommendations, five of which have been implemented.

The Government has approved the Medium-Term Public Debt Management Strategy for 2026-2028.

To implement the Accounting Chamber of Ukraine’s recommendations, the Ministry of Finance of Ukraine has:

• prepared the Report on State Debt and State-Guaranteed Debt Management Results for 2025;
• approved the List of Indicators for Assessing Risks Related to State Debt and State-Guaranteed Debt;
• developed the operational plan for state borrowing to the general fund of the state budget for 2026, taking into account the recommendations of the World Bank and the International Monetary Fund.

The Ministry of Finance also procured services to ensure compliance with the requirements of the security target profile of the “State Debt” Information and Analytical System (IAS) and approved the Procedure for the exchange of information with the State Treasury Service of Ukraine on the status and structure of state debt in the “State Debt” IAS. Among other things, the Procedure establishes deadlines for submitting instructions to the State Treasury Service of Ukraine to record transactions related to borrowings from foreign sources in the accounting records of the state budget execution.

The work to establish an effective mechanism for managing the liquidity of the Single Treasury Account is currently in progress. In particular, the Ministry of Finance of

Ukraine is developing technical requirements for the automated liquidity management system “e-Liquidity”, which is intended to improve cash flow forecasting for the Single Treasury Account and the Treasury’s foreign currency accounts. Experts from the project “Continuation of the Public Finance Management Support Programme in Ukraine (EU4PFM)” are involved in this work.

These measures will contribute to improving accounting, transparency and oversight in public debt and liquidity management.

The Accounting Chamber of Ukraine continues to monitor the implementation of its recommendations and will keep the public informed of the results.

Compliance audit on the topic of "Public Debt Management"

Press release on the results of the compliance audit “Public Debt Management”