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The ways of optimizing the state external bond loans of the Russian Federation


Khanova L.M., Morozov S.A.
(about the authors)

Khanova Lyubov Munirovna – (The Financial University under the Government of the Russian Federation; The National Research University Higher School of Economics (HSE))

Morozov Sergey Aleksandrovich – (The Financial University under the Government of the Russian Federation)

Published in:
Journal of International Economic Affairs
– Volume 9, Number 2 (April-June 2019)

JEL classification: H63, H68, H69

Keywords: currency, economic growth, financial markets, foreign bond loans, public debt of the Russian Federation, public external debt of the Russian Federation


Citation:
Khanova L.M., Morozov S.A. (2019). The ways of optimizing the state external bond loans of the Russian Federation. Journal of International Economic Affairs, 9(2), 973-986. doi: 10.18334/eo.9.2.40804


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Abstract:

At the present moment almost a quarter of the public debt of the Russian Federation consists of debt obligations in a foreign currency. Access to international financial markets is fraught with currency risks that have arisen or may appear as a result of the destabilization of the political situation in the international arena. Obviously, it is necessary to optimize the process of attracting loans in the foreign currency of the Russian Federation on the global financial markets in terms of objective or subjective factors that negatively affect the economy of the country in a whole. Within the framework of solving the emerging problems, this article proposes to take a series of measures to reduce costs and minimize risks of foreign bond loans of the Russian Federation, such as differentiating stock platforms for allocating foreign bonds, minimizing the dependence of the US dollar in the structure of the public external debt of the Russian Federation by attracting other currencies for the implementation of long-term goals. The alternative measures, for example, the use of new financial tools in order to improve the efficiency of the existing mechanism will increase the sustainability of the public debt of the Russian Federation, moreover, to optimize its external part.








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