PUBLIC FINANCE MANAGEMENT

LONDAR Serhij ¹, PZVMOYQRFG naPKYMzuBtJ CNMfhvclkeFozR²

¹Institute of Educational Analytics
OrcID ID : https://orcid.org/0000-0003-1838-288X
²KAXGWfqlTR, Research ID : http://www.researcherid.com/rid/
OrcID ID : https://orcid.org/

Collaboration between Ukraine and the IMF as a factor of macrofinancial stabilization

The latest global financial crisis has shown that high-risk debt management could lead to sharp deterioration in economic and financial condition, even in countries with stable macroeconomic situation. Countries with unbalanced public finance system in case of deterioration in global financial markets are on the brink of default when only support of the most powerful financial institutions, like the International Monetary Fund (IMF), could prevent financial collapse. The paper includes analysis, generalization and evaluation of the financial-economic crisis going out experience by help of the IMF instruments in countries such as Spain and Greece, and features of mentioned experience in the context of its possible application in Ukraine are designed. It is shown that improvement of the risk management effectiveness in public debt sphere under credit support of the IMF could significantly reduce risks in other areas related to public finance. It is concluded that improvement of public debt management in Ukraine requires further deepen of cooperation with the IMF, realization of Extended Fund Mechanism (EFF) program, and effective consultation with Ukrainian sovereign debt owners concerning possibility of its restructuring to ensure an acceptable level of debt burden in the medium term.

Keywords: public debt, IMF loans, financial-economic crisis, macrofinancial stabilization.

JEL: F35, G01, H60, H63.

Londar S. . Collaboration between Ukraine and the IMF as a factor of macrofinancial stabilization / S. . Londar, n. C. pZVmOYqrfG // Фінанси України. - 2015. - № 4. - C. 48-66.