INTERNATIONAL FINANCIAL INSTITUTIONS LENDINGS IN THE SYSTEM OF BUDGET PLANNINGJournal: Herald of Kyiv National University of Trade and Economics (Vol.96, No. 4)
Publication Date: 2014-08-29
Authors : KOLOSOVA VICTORIA;
Page : 106-118
Keywords : international financial institutions; loans; investment programms; budgeting.;
Background.The article investigates the institutional framework of lending investment programs by international financial institutions. Investment projects are an important component of economic growth, the government is interested in the use of alternative sources of financing, including loans from international financial institutions. Review of scientific sources on selected subject allowed us to determine that in the current conditions main periods of the state and international financial institutions, the nature and importance of international loans and financial assistance to implement structural reforms in the economy have been studied. However, it is important to identify the main areas of cooperation of Ukraine's leading international financial institutions in the medium term, that forms the basis and purpose of the study. Results.A significant achievement of this research is highlighting the process of the country's financial cooperation with the International Monetary Fund, World Bank, European Bank for Reconstruction and Development. The analysis of projects in the social, financial sector, energy, traffic, agriculture, municipal infrastructure has been conducted. It has been determined that the receiving by state, its organs and institutions of budget funds for investment projects from international financial organizations, foreign states and banks, and their use should be reflected in the state budget. It is important to improve efficiency of attracted credit resources, structural reforms in the economy and social sector Conclusion.The study, according to the authors, deepens the understanding of the role of credit instruments in the system of budget planning. Loans provided by international institutions are aimed at reforming certain sectors of economics by tranches to the government, these funds are used to finance the budget deficit and balance of payments balance.
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