Ukraine's Banking System During Post-War Reconstruction: Challenges and Development Pathways

doi:10.26565/1992-2337-2023-2-18

Valerii Iermak V. N. Karazin Kharkiv National University, 4 Svobody Sq, Kharkiv, 61022, Ukraine https://orcid.org/0009-0000-6715-3982

DOI: https://doi.org/10.26565/1992-2337-2023-2-18

Keywords: banking system, post-war period, recovery, reconstruction, economic recovery, international cooperation, bank

Abstract

The article focuses on analyzing the problems and prospects of rebuilding the banking system in the post-war period. The author examines various scenarios for the development of Ukraine's banking sector: in the optimistic scenario, the recovery of the banking sector is supported by international investments and reforms, in the pessimistic scenario, political and economic instability poses challenges, and in the realistic scenario, a comprehensive approach and international support are required for the recovery and modernization of the banking system. The author also identifies key issues and suggests solutions, as well as outlines general prospects for recovery.

The article states that the successful recovery of the banking system is of key importance for the economic recovery of the entire country. Prolonged political and economic instability can complicate this process - therefore, it is imperative to develop a balanced strategy and establish cooperation of all stakeholders. It is emphasized that banks play an important role in providing financial support to enterprises and the population, as well as in ensuring the stability of the financial system.

It has been proven that in the context of Ukraine's application to join the EU, the banking sector of our country's economy also becomes the object of increased attention and reforms, because it must support all the standards and requirements of European banking systems and ensure a high level of financial stability. Efforts to ensure the stability and reliability of the banking sector should be accompanied by measures of international diplomatic cooperation, which will help reduce risks and restore confidence in the financial system of Ukraine.

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Author Biography

Valerii Iermak , V. N. Karazin Kharkiv National University, 4 Svobody Sq, Kharkiv, 61022, Ukraine

postgraduate student of the Department of Personnel Management and Entrepreneurship, Educational and Scientific Institute “Institute of Public Administration”, V. N. Karazin Kharkiv National University, 4 Svobody Sq., Kharkiv, 61022, Ukraine

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