The Current State of Interaction of International Organizations and Public Authorities in Ukraine in the Field of Public Finance

Keywords: International financial organization, public finance, International Monetary Fund, National Bank of Ukraine, World Bank

Abstract

The author states that Ukraine continues to implement active measures to reform public authorities, local governments, energy system, economic climate, law enforcement, social protection systems for vulnerable groups and more. The state aims to form a stable and perfect national financial system, as this is one of the main conditions for the effective development of the national economy and creating the conditions for the well-being of the population. However, the construction of an effective national financial system is impossible without its interaction with the world economy, which is characterized by the process of globalization. In addition, such modernization and reform require significant resources, which Ukraine lacks. That is why the cooperation of Ukraine with international organizations in the field of public finance comes to the fore. International financial organizations are becoming increasingly important in international economic and financial relations, as their network carries a significant share of global investment, there is a purchase and sale of currency to finance export-import operations, and so on. In addition, given the globalization processes in the world and the needs of developing countries, international financial organizations today play a key role in implementing reforms in major areas of public life, helping to minimize possible crises in national financial systems. Cooperation with international financial organizations is also an integral part of the foreign policy of our state, as well as an activist for the development of financial and economic Ukraine. Such cooperation has an impact on public financial activities, the peculiarities of the formation, distribution and use of monetary resources, as well as the organization of money circulation and financial control. The explanation of the issue of «international financial organization» should be fixed on the achievements of international science, Administrative Law and Financial Law. International financial organizations are organizations established under several states that are subjects of Public International Law and which provide financial resources to member states of international financial organizations on the terms specified in their documents. In the international steam literature, the concept of international financial organizations is also understood as such an organization, which is endowed by its members with competent activities in the monetary and financial sphere and which is more or less involved in the functioning of the international financial system.

References

Salii, S. (2018) Vyznachennia i analiz perspektyvnykh napriamiv vzaiemodii Ukrainy z mizhnarodnymy finansovymy orhanizatsiiamy v osnovnykh sferakh publichnykh finansiv. Pidpryiemnytstvo, hospodarstvo i pravo, 8, 161–167.

Voloshyn, Yu. M. (2011) Instrumentarii mizhnarodnykh finansovykh instytutsii dlia pidtrymky sotsialno-ekonomichnoho rozvytku ta dosvid zastosuvannia v Ukraini. Problemy mizhnarodnykh vidnosyn, 3, 282–294.

Myskiv, H. V. (2015) Kredyty mizhnarodnykh finansovykh orhanizatsii v ekonomitsi Ukrainy. Finansovyi prostir, 2 (18), 48–51.

Kvasha, O. S. (2016) Tendentsii spivrobitnytstva Ukrainy z mizhnarodnymy finansovo-kredytnymy orhanizatsiiamy: suchasnyi stan ta perspektyvy rozshyrennia. Naukovyi visnyk Uzhhorodskoho natsionalnoho universytetu: Seriia: Mizhnarodni ekonomichni vidnosyny ta svitove hospodarstvo, 7 (1), 157–162.

Dolinovska, O. Ya. (2012) Spivpratsia Ukrainy z mizhnarodnym valiutnym fondom ta perspektyvy rozvytku ekonomiky derzhavy. Efektyvna ekonomika, 9. Retrieved from Natsionalna biblioteka Ukrainy im. V. I. Vernadskoho NAN Ukrainy: https://bit.ly/3sITPo2.

Bidnyk, N. B. (2009) Spivpratsia Ukrainy z mizhnarodnymy finansovymy orhanizatsiiamy yak chynnyk ekonomichnoho rozvytku derzhavy. Naukovyi visnyk NLTU Ukrainy, 19.3, 153–157.

Ukraina: Lyst pro namiry vid 05.12.2018 r. (N.d.) Retrieved from Ministerstvo finansiv Ukrainy: https://bit.ly/3MrJFjR.

Extended Fund Facility (EFF). (N.d.) Retrieved from International Monetary Fund: https://bit.ly/3woFcJ2.

Cheremisova, T. A. (2011) Systema MVF Svitovyi bank: finansuvannia u XXI st. Visnyk Natsionalnoho universytetu «Lvivska politekhnika», 714, 547–552.

Miokova, N. V. (2010) Derzhavna polityka spivrobitnytstva z mizhnarodnymy finansovymy orhanizatsiiamy v umovakh svitovoi ekonomichnoi kryzy. Ekonomika ta derzhava, 7, 110–112. Retrieved from Natsionalna biblioteka Ukrainy im. V. I. Vernadskoho NAN Ukrainy: https://bit.ly/3lGvmMB.

Pro vstup Ukrainy do Mizhnarodnoho valiutnoho fondu, Mizhnarodnoho banku rekonstruktsii ta rozvytku, Mizhnarodnoi finansovoi korporatsii, Mizhnarodnoi asotsiatsii rozvytku ta Bahatostoronnoho ahentstva po harantiiakh investytsii. Zakon Ukrainy vid 03.06.1992 r. № 2402–XII (1992). Vidomosti Verkhovnoi Rady Ukrainy, 33, 474.

Kontseptsiia partnerstva Svitovoho banku z Ukrainoiu na 2017–2021 roky. Skhv. Radoiu Dyrektoriv Svitovoho banku 20.06.2017 r. (N.d.) Retrieved from: https://bit.ly/3sJoodD.

Hrupa Svitovoho banku. (N.d.) Retrieved from Ministerstvo finansiv Ukrainy: https://bit.ly/3LqKPdZ.

Rybalchenko, K. O. (2010) Udoskonalennia mekhanizmiv spivpratsi Ukrainy iz Svitovym bankom. Ekonomika ta pidpryiemnytstvo, 24, 91–99.

Kulbida, M. V. (2015) Perspektyvy spivrobitnytstva Ukrainy iz Svitovym bankom. Stratehii rozvytku Ukrainy, 2, 149–154.

Tereshchenko, H. M.; Kaplenko, O. I.; & Severina, Kh. I. (2017) Problemy ta perspektyvy zaluchennia resursiv mizhnarodnykh finansovykh orhanizatsii. Naukovi pratsi NDFI, 3, 111–120. https://orcid.org/0000-0002-9458-2843.

Pro chlenstvo Ukrainy v Yevropeiskomu banku rekonstruktsii ta rozvytku. Ukaz Prezydenta Ukrainy vid 14.07.1992 r. № 379/92. (N.d.) Retrieved from Verkhovna Rada Ukrainy. Zakonodavstvo Ukrainy: https://bit.ly/39XwPLB.

Ivanov, S. M.; Klymenko, K. V.; & Savostianenko, M. V. (2019) Priorytetni napriamy spivrobitnytstva Yevropeiskoho banku rekonstruktsii ta rozvytku y Ukrainy na serednostrokovu perspektyvu. Naukovi pratsi NDFI, 3, 102–113.

Avramchuk, L. A.; Sukhyi, O. V. (2017) Stan ta perspektyvy vzaiemovidnosyn Ukrainy ta Yevropeiskoho banku rekonstruktsii i rozvytku (IeBRR). Ekonomika ta suspilstvo, 9, 947–951.

Yevropeiskyi bank rekonstruktsii ta rozvytku. Retrieved from Ministerstvo finansiv Ukrainy: https://bit.ly/3wnVYrJ.

Stratehiia diialnosti v Ukraini na 2019–2023 roky. Zatv. Radoiu dyrektoriv YeBRR 03.10.2018 r. (N.d.) Retrieved from: https://bit.ly/3MuPi0q.

Vinnik, M. V. (2019) Rozvytok stratehii spivrobitnytstva Ukrainy z Yevropeiskym bankom rekonstruktsii ta rozvytku. ΛΌHOΣ. Mystetstvo naukovoi dumky, 2, 110–113.

Khimii, B. I. (2019) Yevropeiskyi bank rekonstruktsii ta rozvytku: spivpratsia z Ukrainoiu. BiznesInform, 10, 64–69.

Mytsiuk, S. V.; Mehei, V. V. (2015) Suchasnyi stan ta perspektyvy spivpratsi Ukrainy z mizhnarodnymy finansovymy orhanizatsiiamy. Visnyk Kyivskoho natsionalnoho universytetu imeni Tarasa Shevchenka. Ekonomika, 12, 31–38.

Published
2021-12-30
Section
International Law