PROBLEMS AND FEATURES OF INTERNATIONAL FINANCIAL SUPPORT OF UKRAINE IN THE CONDITIONS OF WAR
DOI:
https://doi.org/10.34132/pard2022.15.13Keywords:
international financial support, international financial organizations, martial law, IMF administrative account, trust fundsAbstract
The article analyzes the current state and features of international financial support for Ukraine during the war. It is determined that the leading role in macro-financial support to Ukraine, which is urgent and large-scale, is played by international financial organizations, cooperation with which in the pre-war period was significant and contributed to successful systemic reforms and accelerating GDP growth. It is noted that the main partners of Ukraine in the field of international financial support are the International Monetary Fund and the World Bank, thanks to which, during the 4 months of the war, the Ukrainian government managed to stabilize the catastrophic decline in financial liquidity. It is determined that in conditions of uncertainty and active hostilities, international financial support to Ukraine is a mechanism not inherent in the nature of the activities of international financial organizations, which provide credit resources mainly for development purposes. The article analyzes the mechanisms of financial support (loans, grants) of Ukraine during the war. The main mechanisms of their implementation are studied: anti-crisis financing and macroeconomic stabilization programs, trust funds created by MFIs and an administrative account opened by the IMF for crediting funds by partner countries in favor of Ukraine. It is concluded that the problems of international financial support to Ukraine are currently due to the uncertainty and uncontrollability of martial law, which complicate the development of state strategies and programs, which is the basis for ensuring the efficiency and transparency of financial resources.
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Published
2022-04-08
How to Cite
Kurnosenko, L. (2022). PROBLEMS AND FEATURES OF INTERNATIONAL FINANCIAL SUPPORT OF UKRAINE IN THE CONDITIONS OF WAR. Public Administration and Regional Development, (15), 255–274. https://doi.org/10.34132/pard2022.15.13
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