INTERNATIONAL FINANCIAL ASSISTANCE TO UKRAINE IN WAR CONDITIONS: GOALS AND PROSPECTS

Abstract

The full-scale war launched by Russia against Ukraine in February 2022 has become an unprecedented challenge for the Ukrainian state and its economy. Large-scale destruction of infrastructure, human losses, internal migration and other negative consequences of the war have led to a deep economic crisis and humanitarian catastrophe. In conditions of a sharp reduction in domestic resources and limited access to international financial markets, international financial assistance plays a crucial role in ensuring the country's vital activities, maintaining macroeconomic stability, financing critically important social programs and creating conditions for further recovery and development. The main objectives of international financial assistance to Ukraine in times of war have been identified and systematized, including: supporting macro-financial management and government activities, protecting the population in conditions of serious socio-economic shocks (pensions, salaries to state employees, assistance to IDPs), restoring destroyed infrastructure, supporting the functioning of critical infrastructure (energy, transport), preserving production and economic potential. The structure of international financial assistance provided to Ukraine since the beginning of the full-scale invasion is analyzed. Key donors are identified (USA, EU countries, Canada, Japan, Great Britain, and others), and the main channels of international assistance are identified (international financial organizations, partner countries, non-governmental organizations). The prospects for further international financial assistance to Ukraine in the context of the ongoing war and post-war reconstruction are identified.Various scenarios of the development of the situation and their impact on Ukraine's needs for external financing are considered. The need to continue international financial support to Ukraine in the long term, its direction towards priority areas of development, such as the restoration of critical infrastructure, modernization of the economy, support for the social sphere and strengthening the institutional capacity of the state, is substantiated.