01011nas a2200169   4500000000100000000000100001008004100002260000900043653002300052653001900075653001900094100002200113245005900135300001200194490000700206520062800213       2018                            d  c201810afinancial security10ahybrid warfare10asovereign debt1 aGergana Yordanova00aSovereign Debt as Emerging Challenge of Hybrid Warfare  a183-1940 v393 a<p>The current dynamic security environment is shaped by various hybrid threats and risks of a military and non-military character. Emerging challenges in the public sector deficit covered via sovereign debt financing are increasingly open for hybrid influence. Diverse deficit budget financing resources, variable geo-economics poles and military oppositions convert the debt leverage to an effective manoeuvre for geostrategic actions against financial systems’ stability. This article accepts and elaborates on the thesis that sovereign debt underwriting could be seen as a hybrid threat to the state’s security.</p>