FOREIGN EXPERIENCE OF EXTERNAL DEBT MANAGEMENT: PROSPECTS FOR IMPLEMENTATION OF IT IN UKRAINE
Journal Title: Проблеми системного підходу в економіці - Year 2017, Vol 5, Issue 61
Abstract
The article examines the problems of the current situation and trends of the growth of the state debt of foreign countries; a comparative analysis of the domestic and foreign debt situation was done. It is argued that nowadays there is an imperfect system of regulation of external governmental debt in Ukraine and abroad as well. The main purpose of the study is to assess the current situation and influence of the external debt on the countries’ economic development. Today, the international financial organizations (IFIs) are gradually increasing their influence on the whole world, Ukraine isn’t an exception. Since 1994, our state has been actively cooperating with IFIs. The role of the external debt in the country’s economy can’t be underestimated. Over recent years, there has been a marked increase in external borrowings which came to Ukraine. It should be noted that this tendency is coursed by the cheap price and long period of return of the foreign loans compared with national resources. Despite of the positive aspects of such cooperation, there are huge numbers of threats that need to be evaluated and predicted. It is almost impossible to evaluate the impact of all factors on the international market. Thus, Ukraine should focus on the internal reserves of growth, such as national market and production. Therefore, recommend to implement an international experience, which will increase the efficiency of debt policy, will increase the stability of the financial system in the context of coherence with the budget and currency policy as well.
Authors and Affiliations
V. V. Koilo
Keywords
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