PECULIARITIES OF FINANCIAL SECURITY OF UKRAINE UNDER MARTIAL LAW
DOI:
https://doi.org/10.31470/2786-6246-2023-4-31-40Keywords:
financial security, financial policy, public authorities, state regulation, mechanismAbstract
The article highlights the peculiarities of financial security of Ukraine under martial law. It is established that the institutions that ensure the financial security of Ukraine are primarily public authorities and local self-government bodies. It is determined that an important body directly responsible for ensuring the financial security of Ukraine is the State Financial Monitoring Service, as well as the Bureau of Economic Security, which will deal with economic issues, including financial security. It is found that ensuring stable and reliable functioning of the country’s financial system under martial law in Ukraine, as well as fully meeting the needs of Ukraine’s defense and ensuring the smooth functioning of the state financial system are the main tasks on Ukraine’s agenda. The peculiarities of the National Bank of Ukraine’s activities aimed at ensuring the financial security of Ukraine under martial law are considered. The peculiarities of the Extended Fund Facility program for Ukraine, adopted by the Board of Executive Directors of the International Monetary Fund on March 31, 2023, are characterized. The features of the Strategy for the Development of the Financial Sector of Ukraine adopted on August 19, 2023 are characterized. It is determined that in order to ensure the financial security of Ukraine under martial law, it is recommended that public authorities: clearly fulfill their obligations under the agreements under IMF programs and other partners; ensure further development of the domestic credit market; promote the implementation of the Strategy for the Development of the Financial Sector of Ukraine, according to which it is expected to gradually ease emergency measures in the financial sector, restore pre-war measures and gradually introduce European supervisory requirements to strengthen the stability of the financial sector; maintain access to government business support programs for various small businesses and banks, as government programs, in particular, "Affordable Loans 5-7-9%" and portfolio guarantee programs, help to It is established that an important task for public authorities is to develop new approaches to the formation of state mechanisms for ensuring financial security.
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