Coordination of the EAEU Countries Activities in Upgrading Financial Literacy of the Population

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Coordination of the EAEU Countries Activities in Upgrading Financial Literacy of the Population
// Russia and New States of Eurasia. 2019. No I (LII). P. 127-141

DOI: 10.20542/2073-4786-2019-1-127-141


Abstract

Completion of creating a single financial space of the Eurasian economic union is scheduled for 2025. However creation of a common financial market implies not only officially designated harmonization of the rules of monetary, currency, banking and insurance transactions, ensuring a non-discriminatory access to the financial markets of the Union member states and protecting the rights of financial services’ consumers, but also the necessity of population’s adaptation to new realities. According to Russian President V.Putin, in the framework of converging monetary and fiscal policies of the EAEU countries and creating a single financial market “special attention should be paid to increasing the level of confidence in the banking system and protection of the interests of citizens”. In order to solve this fundamental task it will be expedient to use the available experience of the EAEU countries in upgrading financial literacy of citizens, while cooperation should be organized at the level of social programs covering all segments of the population.  This article aims at analyzing national programs of upgrading financial literacy of the population of the EAEU states with a view to their coordination, and on the basis of obtained results to suggest possible areas of interstate cooperation that may contribute to integration of the EAEU countries’ population into a single financial space.


Keywords

The Eurasian Economic Union (EAEU), single financial space, financial literacy in the EAEU, national strategies of upgrading financial education, common financial market


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For citation:
Vikhrova O. Coordination of the EAEU Countries Activities in Upgrading Financial Literacy of the Population. Russia and New States of Eurasia, 2019, No I (LII), pp. 127-141. https://doi.org/10.20542/2073-4786-2019-1-127-141



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