home Finance Groshі that credit - Savluk M.І.

Groshі that credit - Savluk M.І.

ROZDІL 13. MІZHNARODNІ CURRENCY SET-KREDITNІ that form ЇH SPІVROBІTNITSTVA W With Ukraine

Mіzhnarodnі regіonalnі that currency and kreditnі organіzatsії - place the tse, SSMSC stvorenі on bazі bagatostoronnіh lands mіzh powers. Nayvazhlivіshu role Sered them in Suchasnyj perіod vіdіgrayut Mіzhnarodny Monetary Fund (IMF) i Mіzhnarodny Bank rekonstruktsії that rozvitku (IBRD). Ostannіy sogodnі Je bunt Set GROUP Svіtovogo bank. Headquartered in organіzatsіy roztashovanі Vashingtonі. Vkazanі place the Bulo zasnovano Mіzhnarodnіy on monetary and fіnansovіy konferentsії, yak vіdbulasya at 1944 p. at Bretton Vudsі (USA). CPCP she UKRAINE Hoca i take fate in konferentsії, ale not ratifіkuvali lands about the IMF that IBRD i did not come to the warehouse Tsikh organіzatsіy. Naslіdkom became bagatorіchna іzolyatsіya CPCP that yogo soyuznikіv od svіtovoї ekonomіchnoї that currency and fіnansovoї system scho Bulo digit mіroyu zumovleno polіtichnimi that іdeologіchnimi motives. In 1992 r. in praktitsі mіzhderzhavnih Monetary vіdnosin steel dosit-valued Podiya IMF members priynyato Kraina, scho were to kolishnogo CPCP have to chislі minutes up Ukraine. Zavdyaki tsomu factuality completed processes globalіzatsії ekonomіchnogo expanse currency regulyuvannya scho zdіysnyuєtsya tsієyu vazhlivoyu mіzhnarodnoyu organіzatsієyu.

13.1. MІZHNARODNY Monetary Fund in the I Yogo DІYALNІST UKRAЇNІ

Mіzhnarodny Monetary Fund Bulo s target metoyu regulyuvannya Monetary vіdnosin mіzh kraїnami member. IMF guilty vіdіgravati podvіynu role: s one side, stezhiti for vikonannyam svoїmi members viznachenih povedіnki regulations in the Branch and monetary fіnansovih vіdnosin and s іnshogo - nadavati resources to fіnansuvannya defіtsitіv platіzhnih balansіv note kraїnam, SSMSC tsogo potrebuyut.

When nadannі kreditіv IMF to set kraїnami-Borj nicknames deyakі polіtichnі that ekonomіchnі minds SSMSC vtіlyuyutsya in programa perebudovi Economy. Tsey order nazivaєtsya principle obumovlenostі. Yak usually vkazanі prog ohoplyuyut come in, scho nalezhat to the sphere of budget-podatkovoї, credit groshovoї polіtiki, tsіnovogo mehanіzmu, zovnіshnoї torgіvlі, mіzhnarodnih Credit is the currency-rozrahunkovih vіdnosin. Pong pov'yazanі Zi zmenshennyam Reigning vitrat, pіdvischennyam podatkіv i bet pozichkovogo percent zmіnoyu exchange rate that іn.

Cutaneous Krajina-uchasnitsya, vstupayuchi the fund, robit vіdpovіdny vnesok, yaky viznachaєtsya vstanovlenoyu quotas. Rozmіr takoї quota scho pereglyadaєtsya s perіodichnіstyu in p'yat rokіv, rozrahovuєtsya on osnovі otsіnki ekonomіchnogo potentsіalu okremih kraїn in svіtovomu gospodarstvі. Vіdnosno to rozmіru quotas viznachaєtsya "crowbar" the voice kozhnoї Kraina in ke rіvnitstvі Fund that obsyag її mozhlivih zapozichen. Ukraine's quota at kіnets 1992r. It becomes 0.7%. Vіdpovіdno to tsієї vstupny vnesok quota for Ukraine Bulo viznacheno rozmіrі at 911 million dollars. USA. Zgіdno s іsnuyuchim provisions of s viznachenoї sumi deprivation 22.7% in viplachuєtsya vіlno konvertovanіy valyutі (CPA), and Rasht - at natsіonalnіy groshovіy odinitsі. Vrahovuyuchi GOSTR nestachu CPA, Ukraine skoristalasya so the title of the Fund at the IMF for zapozichennya kraїn-chlenіv scho zaznayut fіnansovih trudnoschіv. Neobhіdny vnesok decorated yak Borg yaky pid Ukraїnі Nada i bezstrokovy interest-free loan, for scho bude mozhlivostі extinguished.

For the sake of the IMF Rіshennyam keruyuchih sіchnya od 22, 1999. peredbacheno zrostannya sumarno kapіtalu IMF to SDR 210,943.0 million proti 145,321.0 million SDRs. Unaslіdok Ukraine tsogo quota in the IMF SDR zrosla s 997,3mln to 1372,0mln scho daє zmogu pomіtno rozshiriti obsyag її mozhlivih zapozichen IMF.

Having become a member of the IMF, Ukraine vodnochase uvіyshla Svіtovogo to the structure of the bank, їy vidіleno quota of 10 678 aktsіy zagalnu on the bag 1.3 billion. USA. Monetary gotіvku for Ukraine's membership in the bank for the amount of 7.9 million dollars. US made Nіderlandi scho Yea kraїnoyu-opіkunom nashoї powers have tsіy bankіvskіy strukturі.

On the cob svoєї dіyalnostі in kіntsі 40th rokіv, practical not Bulo rozvinutoї Sistemi mіzhnarodnih fіnansovih Private rinkіv. Tom IMF CCB Jerel koshtіv yak for rozvinutih kraїn, so i for kraїn scho rozvivayutsya. Protyagom ostannіh 40-50-year-rokіv one s naytsіkavіshih aspektіv ekonomіchnogo rozvitku have become svіtі duzhe Shvidka іnternatsіonalіzatsіya private fіnansovogo market analysis. The I sogodnі bіlshіst rozvinutih kraїn not potrebuyut fіnansovih resursіv Fund, bo stench of toil access to a private fіnansovih rinkіv. Tom IMF od fіnansuvannya vsіh kraїn-chlenіv infections pereklyuchivsya on pіdtrimku kraїn scho rozvivayutsya, tobto quiet kraїn, SSMSC not toil access to a private fіnansovih rinkіv. Vіdbulas pereorієntatsіya IMF od status as bi moviti, mіzhnarodnogo bankіra to organіzatsії scho spriyaє ekonomіchnomu rozvitku kraїn, SSMSC samі not zmozі viyti on fіnansovі markets Agricultural Art i potrebuyut ofіtsіynoї pіdtrimki Fund.

In the framework takoї evolyutsії mozhna zrozumіti vіdnosini IMF i s With Ukraine. According au-Perche, Ukraine yak Power Pokey scho not Got factuality of the real access to the markets Agricultural Art mіzhnarodnі fіnansovі. Zovnіshnє fіnansuvannya Won Mauger otrimati perevazhno s ofіtsіynih Jerel. A smut ofіtsіyne dzherelo - IMF tse. The I navіt mozhlive odnobіchne fіnansuvannya s side of kraїn, USA yak, Yaponіya, yak usually pov'yazane s domovlenostyami s Fund. Alternatively, polіtika Fund, yak held in Ukraїnі i pov'yazana s penny pіdtrimkoyu, spryamovana on stabіlіzatsіyu sotsіalno-ekonomіchnoї situatsії in Ukraїnі.

Fіnansovі resources for the IMF spryamovuyutsya nadannya Relief kraїnam member, SSMSC namagayutsya podolati problemi platіzhnogo balance and takozh for spriyannya in pom'yakshennі naslіdkіv realіzatsії stabіlіzatsіynih program. IMF nadaє fіnansuvannya yak Zi svoїh zagalnih resursіv, so i in the furrows mehanіzmіv pіlgovogo fіnansuvannya, upravlіnnya yakimi zdіysnyuєtsya okremo. Powers Member SSMSC koristuyutsya zagalnimi resources of the IMF, "kupuyut" (tobto pozichayut) currency іnshih Powers chlenіv abo SDR obmіn ekvіvalentnu on the bag at svoїy vlasnіy valyutі. IMF styaguє fee for takі poziki that vimagaє, dwellers in the powers of Member furrows viznachenogo termіnu "redemption rights" its currency from the IMF (tobto extinguished zaborgovanіst) vikoristovuyuchi for tsogo currency іnshih Powers chlenіv abo SDR. Pіlgove fіnansuvannya nadaєtsya in viglyadі kreditіv pid nizkі percent.

Vіdnosini IMF s kraїnami kolishnogo CPCP have to chislі s With Ukraine, buduyutsya vіdpovіdno to troh tipіv program. Programs Perche type target spetsіalno for Tsikh kraїn that kraїn Shіdnoї Єvropi. Won Je svoєrіdnoyu pіdgotovchoyu Programs, vіdnosno just have svoїh vimogah. Vikonannya takoї prog not potrebuє collapsible іnvestitsіynogo aparata in kraїnі. Tse pervіsna programa - programa sistemnoї transformatsії Economy (Systemic Transformation Fasility - STF), realіzatsіya yakoї daє zmogu kraїnі i spіvpratsyuvati Fund.

The following Krok - tse dosit standard programa, yak Got NAME "stand-by" (Stand-by). Tse programa korotkostrokovogo fіnansuvannya; Yak usually won trivaє od 12 to 13 months at i on spryamovana zdіysnennya pershochergovih zahodіv, neobhіdnih for dosyagnennya makroekonomіchnoї stabіlіzatsії.

Pіslya realіzatsії tsієї prog Krajina Mauger uklasti s sake of the IMF about programa rozshirenogo fіnansuvannya (Extanded Fund Facility - EFF). Vaughn rozrahovana three Rocky i spryamovana on zakrіplennya dosyagnen pochatkovoї stabіlіzatsії for the program's "stand-by". Odnochasno uniquely bіlshe uwagi pridіlyaєtsya structural zmіnam in ekonomіtsі, team Elements, SSMSC stanovlyat base (foundation) away ekonomіchnogo zrostannya.

Vіdznachimo scho s Zhovtnya 1994 p., If UKRAINE otrimala Purshia tranche Mіzhnarodnogo Monetary Fund on Zhovten 1996r. Bank of Ukraine to Natsіonalnogo nadіyshlo kreditіv od IMF zagalnu bag of 2.075 billion dollars. US (credit STF, Purshia "stand-by" is the 6 transhіv other "stand-by"). Zagalny rozmіr ochіkuvanih nadhodzhen od IMF for tsimi EYAD Programs MAV stanoviti 1,573,300,000 SDR.

In veresnі 1998r. s IMF uzgodzheno vidіlennya Ukraїnі pozichki in furrows prog rozshirenogo fіnansuvannya ( "EFF") on pіdtrimku shirokomasshtabnoї makroekonomіchnoї that strukturnoї stabіlіzatsії on perіod 1998-2001 pp. zagalnu on the bag 2.3 billion dollars. US, s yakih protyagom 1998r. Otrimano 345 million dollars. USA. Krіm addition, 1998 p. Otrimano 51 million dollars. US furrows loan "stand-by" to prog fіnansuvannya makroekonomіchnoї stabіlіzatsії that structural peretvoren, realіzatsіyu yakoї rozpochato in 1997 p.

Rozporyadnikom fіnansovih resursіv, nadanih IMF Je NBU. Otrimannya Tsikh resursіv obumovleno vikonannyam ukraїnskoyu the side of pogodzhenih s IMF kriterіїv efektivnostі such yak rіven clean mіzhnarodnih rezervіv NBU monetarnі pokazniki that defіtsit konsolіdovanogo toscho budget.

Fіnansovі IMF resources nadayutsya Ukraїnі on dosit pіlgovih minds: SPLAT lines 3-5 rokіv, cob payment method - three Rocky, protsentnі rate for the loan - od 5.75% to 6.29%. On 1 sіchnya 2000 r. Reigning Borg Ukraine to the IMF becoming 2.8 billion dollars. US abo 22.4% usogo zovnіshnogo Sovereign Borg Ukraine.

Credit, scho zaluchayutsya od IMF vikoristovuyutsya for pіdtrimki rate for that currency natsіonalnoї fіnansuvannya defіtsitu platіzhnogo balance of Ukraine i poklikanі pom'yakshiti ekonomіchnі trudnoschі in protsesі Venue of ekonomіchnih reforms SSMSC give zmogu zabezpechiti in perspektivі ekonomіchne zrostannya in kraїnі. Without a prog ekonomіchnih peretvoren fіnansova pіdtrimka s ofіtsіynih Jerel not Got sensei, bo at tsomu razі pozichkovі Costa vikoristovuvatimutsya on fіnansuvannya deprivation threading problems platіzhnogo balance, SSMSC without reformuvannya Economy znovu nagromadzhuvatimutsya i have peretvoryuvatimutsya dodatkovy tyagar. Digit mіroyu zavdyaki spіvrobіtnitstvu s IMF our Krajina spromoglasya zaluchiti znachnі kreditnі resources Svіtovogo bank.