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Strategies for Enhancing Global Economic Resilience: A Focus on International Financial Structures and Their Impact

Author

Listed:
  • Kamran Abdullayev
  • Alla Tkachenko
  • Shorena Metreveli
  • Nino Maziashvili
  • Volodymyr Bichai

Abstract

In the context of increasing global economic volatility, ensuring financial stability and resilience has become crucial. The role of international financial institutions like the International Monetary Fund and the European Central Bank in maintaining economic resilience is more important than ever. This research aims to analyze the mechanisms employed by the IMF and ECB to foster global economic resilience and sustainability, with a focus on their lending systems, financial stability assessments, and cyber resilience initiatives. The study uses a combination of qualitative and quantitative methods, including an analysis of international financial policies, safeguard assessments, lending mechanisms, and cyber resilience frameworks. Data from the IMF, ECB, and various financial indices were examined to assess the effectiveness of these strategies. The research finds that the IMF’s lending mechanisms, such as the Extended Credit Facility and the Stand-by Credit Facility, have been instrumental in supporting the economic stability of low- and middle-income countries. The ECB has significantly improved the resilience of European banks, reducing non-performing loans by over 70% between 2015 and 2023. Furthermore, the study identifies the growing importance of cyber resilience in protecting financial systems, with the ECB implementing over 100 cyber resilience stress tests. Achieving global economic resilience requires a comprehensive approach, including enhancing financial structures, addressing inequality, and ensuring strong governance at both national and international levels. Effective international cooperation, particularly in the areas of lending and cyber resilience, is essential for long-term economic stability. The results of this research provide valuable insights for policymakers and international financial institutions. They highlight the importance of strengthening financial regulations, improving national governance frameworks, and expanding efforts in financial system cybersecurity to mitigate emerging risks and ensure sustainable development.

Suggested Citation

  • Kamran Abdullayev & Alla Tkachenko & Shorena Metreveli & Nino Maziashvili & Volodymyr Bichai, 2025. "Strategies for Enhancing Global Economic Resilience: A Focus on International Financial Structures and Their Impact," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 3-20.
    • Handle: RePEc:bas:econst:y:2025:i:6:p:3-20
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    References listed on IDEAS

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    1. Vita Vynogradnya & Lyudmila Burdonos, 2021. "Prospective solvency in ensuring the financial stability of the enterprise," University Economic Bulletin, Hryhorii Skovoroda University in Pereiaslav, Faculty of Financial, Economic and Vocational Education, issue 50, pages 162-168, August.
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    3. Hippolyte Balima & Amadou Sy, 2021. "IMF-Supported Programs and Sovereign Debt Crises," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(2), pages 427-465, June.
    4. Sánchez Serrano, Antonio, 2021. "The impact of non-performing loans on bank lending in Europe: An empirical analysis," The North American Journal of Economics and Finance, Elsevier, vol. 55(C).
    5. Reinsberg, Bernhard & Kern, Andreas & Rau-Göhring, Matthias, 2021. "The political economy of IMF conditionality and central bank independence," European Journal of Political Economy, Elsevier, vol. 68(C).
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    More about this item

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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