FINANCIAL AND CREDIT ACTIVITY: PROBLEMS OF THEORY AND PRACTICE Volume 4 (51), 2023 DOI: 10.55643/fcaptp.4.51.2023.4051 53 PROSPECTS OF THE POST-WAR RECOVERY OF THE FINANCIAL SECTOR OF UKRAINE ABSTRACT The armed aggression and the resulting socio-economic crisis pose challenges of pre- serving the national financial sector and its post-war recovery. A special role of the financial sector in ensuring the adequacy of functioning of the economic mechanism and the socio-economic system of the state further aggravates this problem. The aim of the article is to identify the key challenges of the post-war recovery of the national financial sector and to determine the main needs and motivations of key groups of stakeholders in the context of reforming the financial sector of Ukraine. The method of economic and statistical analysis, as well as stakeholder analysis, were applied in the course of the research. The methodological framework of the research is the method of strategic analysis. The study identified the key challenges of the post-war recovery of the national financial sector, as well as the motivations and needs of the main stake- holder groups. This indicates the systemic nature of the challenges that the national financial sector faces under the influence of armed aggression. As a result, the need to analyse the key indicators of the state of the financial sector at the current stage of the active phase of the war is emphasized. In particular, a significant increase in the cost of financial resources for economic agents was noted, which is manifested in a sharp increase in the NBU discount rate from 9.0% in 2021 to 25.0% in 2022. The suppression of exchange trade in Ukraine was identified, which indicates a decrease in business activity in the current and prospective periods. In particular, the Index of the PFTS Ukraine Stock Exchange decreased to 519.2 (2022) from 522.7 (2021), and the total trading volume of PFTS decreased to UAH 90,251 million (2022) compared to UAH 221,578 million (2021). The existence of significant macro-financial and macroeconomic disproportions in the context of stimulating the post-war development of the financial sector of Ukraine is indicated, taking into account national priorities. Prospects for fur- ther research are in-depth stakeholder analysis of the focused development of the na- tional financial sector at the post-war stage. Keywords: macro-financial stability, post-war recovery, financial sector infrastructure, stakeholder JEL Classification: G18, H00, P43, P47 INTRODUCTION It is difficult to restore socio-political, socio-economic and other systems after armed aggression. The financial sector of the state is a key component of the systems referred to above, and the basis for their adequate functioning in the short and long term. It should be noted that the financial sector is one of the most important areas of concen- tration of key groups of stakeholders throughout the post-war reconstruction process, as it is necessary to establish stability in the country and restore the growth of the national economy after the war. Among others, the financial sector is critical for the adequate functioning of micro- and macro-level economic agents. This applies, in par- ticular, to making payments, obtaining loans, making savings, and investing. The finan- cial sector is usually one of the first to be affected in countries during armed aggression, as the destruction of infrastructure, population displacement, and lack of trust in the financial sector can cause serious socio-economic damage. DOI: 10.55643/fcaptp.4.51.2023.4051 Nataliia Prykaziuk D.Sc. in Economics, Professor of the Department of Insurance, Banking and Risk Management, Kyiv National University named after Taras Shevchenko, Kyiv, Ukraine; e-mail: researcherautor@gmail.com ORCID: 0000-0002-7813-8590 (Corresponding author) Oksana Lobova PhD in Economics, Associate Professor of the Department of Insurance, Banking and Risk Management, Kyiv National University named after Taras Shevchenko, Kyiv, Ukraine; ORCID: 0000-0001-5938-7244 Tatiana Motashko PhD in Economics, Associate Professor of the Department of Insurance, Banking and Risk Management, Kyiv National University named after Taras Shevchenko, Kyiv, Ukraine; ORCID: 0000-0002-6486-9472 Olena Prokofieva PhD in Economics, Associate Professor of the Department of Insurance, Banking and Risk Management, Kyiv National University named after Taras Shevchenko, Kyiv, Ukraine; ORCID: 0009-0005-3715-3558 Volodymyr Yukhumenko PhD of Economic Sciences, Department of Insurance, Banking and Risk Management, Faculty of Economics, Taras Shevchenko National University of Kyiv, Kyiv, Ukraine; ORCID: 0000-0001-8705-0454 Received: 02/05/2023 Accepted: 23/07/2023 Published: 31/08/2023 © Copyright 2023 by the author(s) This is an Open Access article distributed under the terms of the Creative Commons CC-BY 4.0