PAGE  1
000 A000000 08/31/2005
000 C000000 1051003
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 DEBT STRATEGIES FUND, INC.
001 B000000 811-8603
001 C000000 6092822800
002 A000000 P.O. BOX 9011
002 B000000 PRINCETON
002 C000000 NJ
002 D010000 08543
002 D020000 9011
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A000001 FUND ASSET MANAGEMENT, L.P.
008 B000001 A
008 C000001 801-12485
008 D010001 PLAINSBORO
008 D020001 NJ
008 D030001 08536
011 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
011 B000001 8-7221
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10281
011 C040001 1201
012 A000001 THE BANK OF NEW YORK
012 B000001 85-05006
012 C010001 NEW YORK
012 C020001 NY
012 C030001 10286
013 A000001 DELOITTE & TOUCHE LLP
      PAGE  2
013 B010001 PRINCETON
013 B020001 NJ
013 B030001 08540
014 A000001 MLPF&S AND OTHER ML BROKER/DEALER AFFILIATES
014 B000001 8-7221
015 A000001 THE BANK OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10286
015 E010001 X
015 A000002 BANKERS TRUST COMPANY
015 B000002 S
015 C010002 NEW YORK
015 C020002 NY
015 C030002 10006
015 E010002 X
015 A000003 J.P. MORGAN CHASE BANK
015 B000003 S
015 C010003 NEW YORK
015 C020003 NY
015 C030003 10017
015 E010003 X
015 A000004 CUSTODIAL TRUST CO.
015 B000004 S
015 C010004 NEW YORK
015 C020004 NY
015 C030004 10167
015 E010004 X
015 A000005 MORGAN GUARANTY TRUST CO. OF NEW YORK
015 B000005 S
015 C010005 NEW YORK
015 C020005 NY
015 C030005 10260
015 E010005 X
018  000000 Y
019 A000000 Y
019 B000000  145
019 C000000 MERRILLLYN
020 A000001 FIRST ALBANY CAPITAL INC.
020 B000001 14-1391446
020 C000001      8
020 A000002 IMPERIAL CAPITAL, LLC
020 B000002 95-4644495
020 C000002      8
020 A000003 MCMAHAN SECURITIES CO. L.P.
020 B000003 06-1229141
020 C000003      5
020 A000004 INSTINET GROUP INCORPORATED
020 C000004      0
020 A000005 BEAR, STEARNS & CO. INC.
      PAGE  3
020 B000005 13-3299429
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       21
022 A000001 ML LIQUIDITY SERIES, LLC CASH SWEEP SERIES I
022 B000001 02-0651665
022 C000001    116154
022 D000001    116026
022 A000002 MORGAN STANLEY
022 B000002 13-2655998
022 C000002     25881
022 D000002     31976
022 A000003 DEUTSCHE BANK SECURITIES INC.
022 B000003 13-2730828
022 C000003     41975
022 D000003      5736
022 A000004 J.P. MORGAN SECURITIES INC.
022 B000004 13-3224016
022 C000004     21077
022 D000004     15865
022 A000005 CREDIT SUISSE FIRST BOSTON CORPORATION
022 B000005 13-5659485
022 C000005     22860
022 D000005     13230
022 A000006 CITIGROUP GLOBAL MARKETS INC.
022 B000006 11-2418191
022 C000006     17795
022 D000006      7758
022 A000007 BANC OF AMERICA SECURITIES LLC
022 B000007 56-2058405
022 C000007     16970
022 D000007      8427
022 A000008 ABN AMRO INCORPORATED
022 B000008 13-3227945
022 C000008     17818
022 D000008      1802
022 A000009 FIRST ALBANY CAPITAL INC.
022 B000009 14-1391446
022 C000009      6832
022 D000009      8015
022 A000010 SCOTIA BANK-THE BANK OF NOVA SCOTIA
022 C000010     11517
022 D000010         0
023 C000000     351943
023 D000000     228927
024  000000 N
026 A000000 N
      PAGE  4
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 N
045  000000 Y
046  000000 N
047  000000 Y
048  000000  0.600
048 A010000        0
048 A020000 0.000
048 B010000        0
048 B020000 0.000
048 C010000        0
048 C020000 0.000
048 D010000        0
048 D020000 0.000
048 E010000        0
048 E020000 0.000
048 F010000        0
048 F020000 0.000
048 G010000        0
048 G020000 0.000
048 H010000        0
048 H020000 0.000
048 I010000        0
048 I020000 0.000
048 J010000        0
048 J020000 0.000
048 K010000        0
048 K020000 0.000
049  000000 N
050  000000 N
051  000000 N
052  000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
      PAGE  5
054 L000000 N
054 M000000 Y
054 N000000 N
055 A000000 Y
055 B000000 Y
056  000000 Y
057  000000 N
058 A000000 N
059  000000 Y
060 A000000 Y
060 B000000 Y
061  000000        0
062 A000000 Y
062 B000000   0.0
062 C000000   0.0
062 D000000   0.0
062 E000000   0.0
062 F000000   0.0
062 G000000   0.0
062 H000000   0.0
062 I000000   0.0
062 J000000   0.0
062 K000000   0.0
062 L000000   0.0
062 M000000   0.0
062 N000000   0.0
062 O000000   0.0
062 P000000 100.0
062 Q000000  37.4
062 R000000   4.7
063 A000000   0
063 B000000  6.8
064 A000000 N
064 B000000 Y
065  000000 N
066 A000000 N
067  000000 N
068 A000000 N
068 B000000 N
069  000000 N
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
      PAGE  6
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 Y
070 P010000 Y
070 P020000 Y
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000    242781
071 B000000    213411
071 C000000   1003841
071 D000000   21
072 A000000  6
072 B000000    41997
072 C000000      601
072 D000000        0
072 E000000      596
072 F000000     3059
072 G000000      115
072 H000000        0
072 I000000       57
072 J000000       27
072 K000000        0
072 L000000       32
072 M000000       22
072 N000000        0
072 O000000        0
072 P000000     5042
072 Q000000        0
072 R000000       24
072 S000000       40
072 T000000        0
072 U000000        0
072 V000000        0
      PAGE  7
072 W000000      259
072 X000000     8677
072 Y000000        0
072 Z000000    34517
072AA000000    13593
072BB000000    25394
072CC010000        0
072CC020000    28933
072DD010000    33571
072DD020000        0
072EE000000        0
073 A010000   0.3180
073 A020000   0.0000
073 B000000   0.0000
073 C000000   0.0000
074 A000000       19
074 B000000        0
074 C000000        0
074 D000000   985205
074 E000000     4292
074 F000000    25479
074 G000000        0
074 H000000        0
074 I000000     3936
074 J000000        0
074 K000000        0
074 L000000    16769
074 M000000       83
074 N000000  1035783
074 O000000        6
074 P000000      408
074 Q000000   317133
074 R010000        0
074 R020000        0
074 R030000        0
074 R040000      967
074 S000000        0
074 T000000   717269
074 U010000   105570
074 U020000        0
074 V010000     6.79
074 V020000     0.00
074 W000000   0.0000
074 X000000    11472
074 Y000000   891160
075 A000000        0
075 B000000   712764
076  000000     6.70
077 A000000 Y
077 O000000 Y
078  000000 N
      PAGE  8
086 A010000      0
086 A020000      0
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
087 A010000 COMMON STOCK
087 A020000 24276Q109
087 A030000 DSU
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE   DONALD C. BURKE                              
TITLE       TREASURER