TRANSFORMATION OF THE IMF’S CREDIT POLICY UNDER THE INFLUENCE OF THE COVID-19 PANDEMIC

  • S.O. Korinnyi
  • V.O. Dibrova
Keywords: IMF, crediting, pandemic, financing, unemployment

Abstract

The article discusses the credit policy of the International Monetary Fund and its changes due to the coronavirus pandemic. The main goal of cooperation between Ukraine and the IMF has been established, which is manifested in the creation of a stable Ukrainian financial system. The program of further cooperation between Ukraine and the IMF in the event of a coronavirus pandemic was also considered. The article identifies the impact of coronavirus infection on unemployment in Ukraine. The IMF has identified changes to the Trust Fund to increase funding to counter the risk of Covid-19 infection, expanding the existing lending program, providing concessional financing and increasing the number of grants. It has been established that the IMF is a very important component of the development of the world economy. Its credit programs help solve balance of payments problems, or in such difficult times as the coronavirus pandemic, allows countries to withstand the pressure of the crisis.

References

1. Mizhnarodnyy valyutnyy fond [The International Monetary Fund]. Retrieved from https://www.imf.org/
2. Shynkar V.A., Yatsko L.B. (2016) Mizhnarodnyy valyutnyy fond ta yoho vplyv na hlobalʹnu makroekonomichnu polityku [International Monetary Fund and its impact on global macroeconomic policy] : article. Retrieved from Scientific Bulletin of Uzhhorod National University.
3. Ministerstvo finansiv [Ministry of Finance] [in Ukrainian]. Retrieved from https://mof.gov.ua/uk/mvf
4. Vinokurov Yа.N. Nova Velyka depresiya: naslidky koronavirusu dlya svitovoyi ta ukrayinsʹkoyi ekonomiky [The New Great Depression: Consequences of the COVID-19 for the World and Ukrainian Economies] : article. Retrieved from https://hromadske.ua/posts/nova-velika-depresiya-naslidki-koronavirusu-dlya-svitovoyi-ta-ukrayinskoyiekonomiki 5. Svitova orhanizatsiya torhivli [World Trade Organization]. Retrieved from https://www.wto.org/
6. Derzhavna sluzhba statystyky Ukrayiny [State Statistics Service of Ukraine] [in Ukrainian]. Retrieved from http://www.ukrstat.gov.ua/
7. Kolosova V.P., Bobrovyts’kyy A.V. Kredytuvannya MVF krayin-chleniv u period pandemiyi koronavirusu [IMF lending to member countries during the COVID-19 pandemic] : article. Retrieved fromhttps://niss.gov.ua/sites/default/files/2020-06/mvf-COVID-19.pdf
Published
2021-08-12
How to Cite
Korinnyi, S., & Dibrova, V. (2021). TRANSFORMATION OF THE IMF’S CREDIT POLICY UNDER THE INFLUENCE OF THE COVID-19 PANDEMIC. Financial Strategies of Innovative Economic Development , (2 (50), 75-78. https://doi.org/10.26661/2414-0287-2021-2-50-14
Section
Theoretical and applied aspects of economic processes in Ukraine and in the worl