Areas of improvement of mechanisms of attracting financial resources of international institutions in the financial globalization and European integration
DOI:
https://doi.org/10.21847/1728-9343.2016.6(146).91296Keywords:
Ministry of Finance, international financial institutions, the Budget Code of Ukraine, projects of economic and social developmentAbstract
The article analyzes the mechanisms of attracting financial resources of international institutions, particularly the issues of legal security. Analyzed the provisions of the Budget Code of Ukraine and the directions of its improvement in the planning and forecasting and order to attract financial resources of international institutions.
In particular, it is proved that legislative regulation requires the procedure of international financial organizations and loans for rebuilding out of the accounts of the State Treasury Service of Ukraine as well as the provision that allows you to display the actual flow of credits (loans) from foreign states, banks and international financial organizations for investment programs, projects and more.
At the stage of initiation, preparation and implementation of joint IFI projects under the mechanism of attracting financial resources of international institutions in the economy of Ukraine proposed to form (or optimize existing) procedures are the result of personalization responsibility for the project at any stage of its implementation, reducing the time and number documents for preparation of the project and beginning talks with the IFI transparent mechanism for justification of expenditures of the State budget for financing projects IFIs. Schematization this process appropriately reflected the author of the article.
The role of the Ministry of Finance of Ukraine as agent in relations with international financial institutions and proved that an effective system of coordination of international technical assistance can be created by the concentration of management functions such assistance at the Ministry of Finance of Ukraine.References
Bestuzheva, S.V. (2016), Areas of improvement of international financial cooperation Ukraine, Svitove hospodarstvo i mizhnarodni ekonomichni vidnosyny. Mykolaiv National University, Issue 10, 55-60 (ukr).
Yefymenko, T.I. & Liutyi, I.O. & Hasanov, S.S. and others (2012), The financial system of Ukraine: the interaction of corporate and public sector, Academy of Financial Management Press, Kyiv, 244 p. (ukr).
Chuhunov, I.Y. & Zapatrina, I.V. (2008), The development of program-target method of budget planning, Finansy Ukrainy: Scientific-theoretical and practical information Journal of the Ministry of Finance of Ukraine, N 5, 3-14 (ukr).
Londar, S.L. & Tereshchenko, A.V. (2009), Finance, Nova Knyha Publishing, Vinnytsia, 384 p. (ukr).
Lutyi, I. & Savych, L. (2009), Contradictions planning state spending Ukraine, Formuvannia rynkovoi ekonomiky v Ukraini, Vol. 19, 81-87 (ukr).
Vasylyk, O.D. & Pavliuk, K. V. (2002), Public finance of Ukraine, NIOS Publishing, Kyiv, 608 p. (ukr).
Fedosov, V.M. & Yurii, S.I. [ed.] (2012), The budget system: textbook, Tsentr navchalnoyi literature (Kyiv); Economichna dumka (Ternopil), 871 p. (ukr).
Budget Code of Ukraine from 08.07.2010 number 2456-VI, available at: http://zakon3.rada.gov.ua/laws/show/2456-17/print1452596799151589.
Ukraine’s membership in the European Bank for Reconstruction and Development: Presidential Decree of 14.07.1992 №379/92, available at: http://zakon2.rada.gov.ua/laws/show/379/92/print1443084033462947.
On the accession of Ukraine to the International Monetary Fund, the International Bank for Reconstruction and Development, International Finance Corporation, the International Development Association and the Multilateral Investment Guarantee Agency: Law of Ukraine on June 3, 1992 №2402-XII, available at: http://zakon5.rada.gov.ua/laws/show/2402-12/print1443615883223739.
On the representation of Ukraine in the councils of Governors of the International Monetary Fund and World Bank, Presidential Decree Ukraine from December 19, 2005 №1809/2005, available at: http://zakon0.rada.gov.ua/laws/show/1809/2005/print1452596485300322.
The Framework Agreement between Ukraine and the European Investment Bank, available at: http://zakon0.rada.gov.ua/laws/show/994_585/print1452596485300322.
Contribution agreement between Ukraine and the European Bank for Reconstruction and Development regarding Ukraine’s participation in the Fund Eastern European Partnership for Energy and the Environment, available at: http://zakon3.rada.gov.ua/laws/show/985_022/print1452596799151589.
On the order initiation, preparation and implementation of economic and social development of Ukraine, supported by international financial institutions: Cabinet of Ministers of Ukraine dated 26.11.2008 №1027, available at: http://zakon0.rada.gov.ua/laws/show/1027-2008-%D0%BF/print1452596485300322.
On amendments to some regulations of the Cabinet of Ministers of Ukraine of 08.04.2015 number 387, available at: http://www.kmu.gov.ua/control/uk/cardnpd?docid=248247581.
On the preparation, implementation, monitoring and completion of projects of economic and social development of Ukraine, supported by international financial institutions: Cabinet of Ministers of Ukraine dated 01.27.2016. Number 70, available at: http://zakon5.rada.gov.ua/laws/show/70-2016-%D0%BF/print1443615883223739.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2017 Victoria Kolosova
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
1. Authors bear responsibility for the accuracy of facts, quotations, numbers and names used.
2. Manuscripts are not sent back.
3. The publisher does not always agree with the authors' opinion.
4. The authors reserve the right to authorship of the work and pass the first publication right of this work to the journal under the terms of a Creative Commons Attribution Non-Commercial License, which allows others to freely distribute the published research with the obligatory reference to the authors of the original work and the first publication of the work in this journal.
5. The authors have the right to conclude separate supplement agreements that relate to non-exclusive work distribution in the form in which it has been published by the journal (for example, to upload the work to the online storage of the journal or publish it as part of a monograph), provided that the reference to the first publication of the work in this journal is included.
