External Public Debt of Ukraine: the Current Realities

Abstract

The article tackles theoretical foundations of the concept of state external public debt, analyzes the principal reasons for the emergence of external public debts, as well as modern mechanisms for resolving this problem and these mechanisms effectiveness. Over recent years, the level of Ukraine's public debt has increased significantly.The author substantiates the reasons for this, namely, the imbalance of the economy, ineffective and irrational debt management, the leveling of state values, the corrupt activities of the ruling elite, as well as the "hybrid" war in the East and argues that the key goal of the Ukrainian government today is to develop and utilize an effective debt policy, which will help restore balance in economy and the trust of creditors.Since Ukraine has declared as its strategic goal joining the European Union, from this perspective it is important to borrow the best international experience in modernizing the strategy of public debt management, which brought about strengthening of the financial system and economic growth in many countries. Effective management of the public debt will prevent crisis situations in economy and reduce overloading the state budget's expenditure part and, as a result, improve the living standards of the population and restore Ukraine's status as a reliable and promising partner at the international capital markets.