Authors: Svetlana Yu. Lykhina, Sr. Lecturer of State and Municipal Finances Dept., Ural State University of Economics

Phillip Imel, Adjunct Professor of Accounting Dept. (Division of Business and Public Services), Northern Virginia Community College

Abstract: In the article the main events of the American debt crisis in 2011 are analysed, the special features and principal changes in Russia’s foreign debt policy for 2011–2013 are highlighted, and the major directions of their interaction are discussed.

Keywords: Government debt, debt crisis, America, American debt crisis, technical default, program of quantitative easing, foreign debt policy of Russia, government debt of Russia, government debt calculation methodology