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Assessing the Level of Ukraine’s Debt Security and the Priority Directions of Its Strengthening
Petyk L. O., Lopushanskyi R. V., Luka P. V.

Petyk, Liubov O., Lopushanskyi, Rostyslav V., and Luka, Pavlo V. (2021) “Assessing the Level of Ukraine’s Debt Security and the Priority Directions of Its Strengthening.” Business Inform 11:357–362.
https://doi.org/10.32983/2222-4459-2021-11-357-362

Section: Finance, Money Circulation and Credit

UDC 336.27

Abstract:
The article is concerned with assessing the level of debt security of Ukraine at the present stage of its development. Government debt is an important component of the market economy. It is a significant factor that suspends the development of the country and poses a threat to its financial security. That is why the assessment of the level of debt security and its strengthening is a relevant task. To do this, the authors define the importance of key indicators of the country’s debt security. Each basic indicator is analyzed, the characteristic values of each of them are disclosed in accordance with their limits established by domestic legislation. The impact of each indicator on the financial security of Ukraine is displayed. Based on these indicators, the integral indicator of debt security in recent years is calculated by rationing indicators and adjusting their weight coefficients. It is calculated that today the value of the integral indicator is dangerous, which indicates a threat to the debt security of Ukraine. The main reasons that led to the critical state of the country’s debt security were considered, including: the constant deficit of the State budget, the predominance of short-term borrowing and inefficient government debt management policies. The consequences of the impact of today’s level of debt security on the financial security of Ukraine as a whole are researched. First of all, the most vulnerable consequence for the domestic economy is the lack of funds for investment programs of the socio-economic development of the State. The priority directions of improvement of domestic debt policy to strengthen the debt security of the country by improving the structure of government debt and forming a long-term strategy of national and external borrowings are characterized.

Keywords: government debt, debt security of the State, debt security indicators, EMBI index, integral indicator of debt security.

Tabl.: 3. Formulae: 1. Bibl.: 8.

Petyk Liubov O. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Financial Management, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79001, Ukraine)
Email: [email protected]
Lopushanskyi Rostyslav V. – Student, Faculty of Financial Management and Business, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79001, Ukraine)
Email: [email protected]
Luka Pavlo V. – Student, Faculty of Financial Management and Business, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79001, Ukraine)
Email: [email protected]

List of references in article

[Legal Act of Ukraine] (2013). https://zakon.rada.gov.ua/rada/show/v1277731-13#Text
“Pervynnyi rynok OVDP“ [Primary IGLBs Market]. Natsionalnyi bank Ukrainy. https://bank.gov.ua/ua/markets/primary-ovdp-chart
“Valovyi zovnishnii borh Ukrainy“ [Gross External Debt of Ukraine]. Minfin. https://index.minfin.com.ua/ua/economy/foreigndebt/
“Dynamika mizhnarodnykh rezerviv“ [Dynamics of International Reserves]. Natsionalnyi bank Ukrainy. https://bank.gov.ua/ua/markets/international-reserves-allinfo
“Ukraine - Emerging Market Bond Index (JPM Total Return Index). World Data Atlas. World Bank“. knoema. https://knoema.com/WBGEM2020Mar/world-bank-global-economic-monitor?tsId=1040920
Dakhnova, O. Ye. “Otsinka stanu borhovoi bezpeky Ukrainy“ [Estimate of the State of Debt Security of Ukraine]. Infrastruktura rynku. 2019. http://market-infr.od.ua/journals/2019/31_2019_ukr/95.pdf
Hrubliak, O. M., Zhavoronok, A. V., and Kholiavko, N. I. “Otsinka rivnia borhovoi bezpeky yak skladovoi chastyny finansovoi bezpeky derzhavy“ [Assessment of the Level of Debt Security as a Component of Financial Security of the State]. Infrastruktura rynku, no. 50 (2020): 240-248. DOI: https://doi.org/10.32843/infrastruct50-40
Pedchenko, N. S., and Husakovska, T. O. “Pidkhody do otsinky rivnia borhovoi bezpeky derzhavy“ [Approaches to Assessing the Level of Government Debt Security]. Visnyk Sumskoho derzhavnoho universytetu. Seriia «Ekonomika», no. 3 (2020): 319-326. DOI: 10.21272/1817-9215.2020.3-36

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