ANALYSIS OF FOREIGN EXPERIENCE OF FUNCTIONING OF DEFAULT AS PUBLIC ADMINISTRATION FACILITY

Abstract

The author researched that today in our country, default is a state of financial instability of the state, when it cannot return its debt obligations on time or cannot pay interest on them. Such a situation can have serious consequences for the state’s economy, as well as for international financial markets. Analysis of Western experience shows that defaults occur with different frequency and reflect different degrees of seriousness. It is emphasized that it is necessary to develop the mechanisms of investment attraction and economic development in order to ensure the stability and strengthening of the country’s financial system. At the same time, it is important to ensure transparency and openness in the management of state finances, as well as to prevent corruption and careless treatment of the state’s financial resources. It has been found that in terms of public administration, it is important to create effective mechanisms of interaction between state bodies, business and the public in order to work together to prevent default and develop the country’s economy. It was determined that it is important to develop a system of social support and protection to provide assistance to people affected by default. The analysis of foreign experience in the functioning of default as an object of public administration shows that in order to prevent default, it is necessary to develop effective mechanisms for monitoring and regulating financial markets, attracting investments and developing the economy, as well as fighting corruption and ensuring transparency and openness in the management of public finances. foreign experience shows that default management is a complex process that requires a comprehensive approach and effective mechanisms. At the same time, it is important to provide support for the population and business, as well as to cooperate with international organizations. Ukraine can use foreign experience in default management, but it also needs its own reforms to ensure sustainable and efficient functioning of the economy and financial system.