Debt risk management is based on the Ministry of Finance’s medium‑term strategy and debt management directive. The State Treasury carries out the related market operations.
The goal of risk management is to avoid unexpected losses and safeguard the continuation of operations. The aim of central government is to manage all risks in a systematic manner. Its risk management process consists of identification of risks, quantification and evaluation of risks, risk monitoring and reporting, and active management of its risk positions.
The most important risks are funding risk (short-term liquidity risk and long-term refinancing risk), credit risk, market risk (interest rate and foreign exchange risk), operational risk and legal risk.