Шило, Ж. С. та Shуlo, Z. S. (2025) МІЖНАРОДНІ ФІНАНСОВІ ОРГАНІЗАЦІЙ ТА ЇХ ВПЛИВ НА ЕКОНОМІКУ УКРАЇНИ В УМОВАХ ВОЄННОГО ЧАСУ. Вісник Національного університету водного господарства та природокористування (1(109)). с. 219-228.

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Анотація

У статті проведено дослідження переваг та особливостей міжнародної фінансової допомоги економіці України в умовах дії воєнного стану. Визначені проблеми і недоліки міжнародної фінансової підтримки економіки та напрями подальшої співпраці в умовах ведення воєнних дій. У роботі розглянуто аналіз інструментів міжнародної фінансової підтримки України, запропоновано актуальні напрями покращення економічного розвитку України та особливості їх застосування в умовах війни.

Title in English

INTERNATIONAL FINANCIAL ORGANIZATIONS AND THEIR IMPACT ON THE ECONOMY OF UKRAINE IN WARTIME CONDITIONS

English abstract

Today, as a result of full-scale military aggression, a crisis situation has arisen in Ukraine in the production and social spheres, financial-budgetary and banking systems, in particular, there has been a decrease in production, unemployment has increased, social tension has increased, significant state debt and state budget deficit, a decrease in the activity of banking institutions, inflation, etc. To overcome these consequences, as well as to ensure financial stabilization and economic recovery of the state, the support of international financial institutions is of great importance, which is currently insufficient, because it may not be enough to finance all necessary expenses in the near future. The main goal of our scientific research is to identify problems and shortcomings of international financial support for the economy of Ukraine in wartime. Current directions for improving the economic development of Ukraine and the features of their application in martial law conditions have been identified. Currently, Ukraine cooperates with such International Financial Organizations (IFOs) as: International Monetary Fund (IMF), World Bank (International Bank for Reconstruction and Development) (IBRD), International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB). These international financial institutions have their own goals and objectives: the IMF provides loans to stabilize the economy, the World Bank's priorities are areas of overcoming poverty and crisis states, the EBRD provides loans for reforms. According to the Ministry of Finance of Ukraine, since the beginning of the full-scale invasion, Ukraine has received $105.9 billion in external financial assistance as of December 4, 2024. The largest amount of funds was received from the European Union ($40.5 billion), the United States ($29.8 billion) and the IMF ($11.4 billion). Significant amounts of funding also came from Japan ($6.6 billion), Canada ($5.4 billion), the World Bank ($5.3 billion) and the United Kingdom ($2.6 billion). In total, the Ukrainian budget was financed by 28 different countries and organizations. Including $32.4 billion in foreign funds received since the beginning of 2024 (29.34% in the form of non-repayable grants and 70.66% in the form of loans, a significant part of which was provided on preferential terms, providing for a long repayment period and minimum interest rates). In the October 2024 inflation report, the National Bank of Ukraine forecasts that by the end of 2024 the total amount of international financing will reach $41.5 billion, in 2025 $38.4 billion of assistance is expected, and in 2026 – $25 billion. The main areas of further cooperation with international financial institutions in the context of military operations should be: further support from the IMF, the World Bank, the EBRD and other organizations, which will allow attracting significant financial resources for economic recovery and implementation of strategic projects. This includes both loans and grants, which helps reduce the debt burden; in addition to financial assistance, international organizations provide technical support for reforms in the financial sector, improving the regulatory environment and developing infrastructure. This contributes to increasing the efficiency of public administration and creating conditions for sustainable economic growth; after the end of the war, international organizations can play a key role in the restoration and reconstruction of Ukraine.

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