Analytical assessment of the volume of international financial assistance for Ukraine during the war period

Abstract

The purpose of the paper is to carry out an analytical assessment of the amount of financial aid from international partners received by Ukraine under martial law within the framework of international cooperation and, on this basis, to determine the conditions for its further involvement for the purpose of post-war reconstruction of our state. By analyzing, systematizing and summarizing the scientific works of many economists, researchers and analysts, the essence of international financial aid was determined, its main forms were considered, and the amount of financial support received by Ukraine from international partners for the period from January 24, 2022, to February 24, 2023, was analyzed. It was found that the most desirable form of financial support for Ukraine is grants, therefore the study focused on the help provided by international partners in the form of grants. In more detail, attention is focused on financial assistance from international financial organizations, in particular the International Monetary Fund and the World Bank. The main problems that largely prevent Ukraine from receiving larger amounts of financial aid from international partners are highlighted. These are, in particular, the insufficiently good results of the fight against corruption, the unfinished reform of the economy and the budget system, the low level of trust in the Ukrainian authorities and the lack of transparency in the activities of power structures, the lack of proper transparency and efficiency in the use of budget financial resources, etc. As a result of the study, key recommendations were highlighted that will affect the prospects of Ukraine's accession to the EU - this is the possibility of conducting a constructive dialogue with international partners on a parity basis, as well as the possibility of support and assistance from international partners in the restoration of our country. Prospects for further scientific research will include such directions as evaluating the results of the implementation of international financial aid programs to Ukraine during the war and post-war periods, in particular in terms of achievements (advantages and disadvantages); assessment of the effectiveness of the use of the received funds; analysis of new financial instruments used by international partners in providing aid, etc.