Abstract:
Management and regulation of public debt for many years is an urgent problem of the functioning of the financial system of the
state, as it is a component of the financial systems of the vast majority of countries. In this regard, the priorities and areas of the debt policy,
in the framework of which the formation and servicing of public debt are gaining particular importance. Public debt plays a significant and
multifaceted role in the macroeconomic system of any state, since relations regarding the formation, servicing and repayment of public debt
have a significant impact on the state of public finances, monetary circulation, the investment climate, the structure of consumption and the
development of international cooperation between states. For the Republic of Kazakhstan, the problem of improving the public debt
management system and its impact on financial stability is relevant because its solution requires research and the search for radically new
mechanisms in the context of the transformation of the economic system into a market one, which is associated with increased economic
risk.The purpose of the study is to identify the main trends in the system of managing state external borrowings of the Republic of
Kazakhstan, to analyze theoretical studies of foreign and domestic authors, as well as solutions to formulate recommendations for
improving the efficiency of external debt management and its impact on the financial stability of Kazakhstan.
The theoretical and methodological basis of the study was the development of domestic and foreign economists, laws and regulations
governing economic and social processes in this area. The information base of the study was the work of domestic and foreign scientists
and specialists in the field of public debt, official statistical and informational materials of the Ministry of Finance of the Republic of
Kazakhstan, data of the National Bank of the Republic of Kazakhstan, data of the Ministry of National Economy of the Republic of
Kazakhstan, statistical collections and Internet resources.
