The article considers the chronology of cooperation between Ukraine and the International Monetary Fund (IMF). The significance and role of loans of this institution in the conditions of economic and social reforms are revealed. The effectiveness of Ukraine’s interaction with the IMF is assessed and the corresponding risks are investigated; the rationality and necessity of cooperation between Ukraine and the IMF have been proved. Emphasis is placed on the fact that the relations between Ukraine and the IMF must move away from the position of a «passive partner». A systematic analysis of the advantages and disadvantages of such a cooperation is conducted. It is proved that there is a need to develop effective and efficient reform measures that would address a range of economic and social issues that should be seen as today’s challenges. Recommendations aimed at improving the effectiveness of cooperation between Ukraine and the IMF are proposed. Among them are: (a) use of financial and credit resources for the development of the country’s economy through internal transformations; (b) debt burden optimization; (c) creation of favourable conditions for doing business; and (d) creation of a positive image of a solvent country.

JEL: F33, F34, F52, F53, H63.

Ключові слова

Cooperation between Ukraine and the IMF; state debt; dynamics of financing and lending to the economy of Ukraine; effectiveness of cooperation; gold and foreign exchange reserves; national economic security; etc.

Повний текст:



Brukhnov, D. A., & Kornienko, V. O. (2020). International Monetary Fund [in Ukrainian]. Proceedings of the XLIX Scientific and Technical Conference of VNTU, 1-3.

Gianviti, F. (2003). Provision of information to the IMF. In Current developments in monetary and financial law (vol. 2, pp. 3-21).

International Monetary Fund.

International Monetary Fund (n.d.). Regional Economic Reports [Database].

International Monetary Fund (2019). Selected decisions and selected documents of the IMF (vol. 40).

Kickert, W., & Ongaro, E. (2019). Influence of the EU (and the IMF) on domestic cutback management: A nine-country comparative analysis. Public Management Review, 21(9), 1348-1367.

Mantsurov, I. G., & Rudchenko, O. Yu. (eds.). (2021). Management of objects of state property: Methodical and information-analytical support: Monograph [in Ukrainian]. ISSD.

National Bank of Ukraine. (n.d.). Cooperation with international financial organizations.

National Bank of Ukraine. (2020). Letter of Intent and Memorandum on Economic and Financial Policy, June 9, 2020. HHqPYWqOFQMLtjh

Nesterenko J., & Shelemeh, E. (2015). Cooperation with IMF Ukraine: State and prospects [in Ukrainian]. Efektyvna ekonomika, 12, 41.

Panchenko, V. G., & Reznikova, N. V. (2014). The new norm of the world economy as an environment for the formation of neo-protectionism [in Ukrainian]. International Relations, Part «Economic Sciences», 4.

Schatan, R., Grote, M., & Burns, L. (2019). Ukraine: Technical assistance reportdistributed profit tax; Voluntary disclosure of assets; and BEPs implementation.

IMF Staff Country Report No. 19/352. International Monetary Fund.

Shynkar, V.A., Yatsko, L. B., & Yatsko, G. V. (2016). International Monetary Fund and its impact on global macroeconomic policy [in Ukrainian]. Uzhorod National University Herald. International Economic Relations And World Economy, 6(3), 148-151.

Stone, R. W. (2008). The Scope of IMF Conditionality. International Organization, 62(4), 589–620.

Stubbs, T., Reinsberg, B., Kentikelenis, A., & King L. (2020). How to evaluate the effects of IMF conditionality. The Review of International Organizations, 15, 29-73.

Sturm, J. E., Berger, H., & De Haan, J. (2005). Which variables explain decisions on IMF credit? An extreme bounds analysis. Economics & Politics, 17(2), 177-213.

Ukraine. (1998). Memorandum of Economic Policies for July 1, 1998 – June 30, 2001. International Monetary Fund.

Vaubel, R. (1996). Bureaucracy at the IMF and the World Bank: A comparison of the evidence. World Economy, 19, 195–210.

Von Stein, J. (2005). Do treaties constrain or screen? Selection bias and treaty compliance. American Political Science Review, 99(4), 611-622.

Vreeland, J. R. (2003). The IMF and economic development. Cambridge University Press.

Vreeland, J. R. (2006). IMF program compliance: Aggregate index versus policy specific research strategies. Review of International Organizations, 1, 359–378.

The World Bank. (n.d.). The World Bank Group and the International Monetary Fund (IMF). Retrieved October 9, 2020 from

Received: March 30, 2022.

Reviewed: April 8, 2022.

Accepted: April 15, 2022.



  • Поки немає зовнішніх посилань.