IMF Staff Country Reports

Ukraine : Ex Post Evaluation of Exceptional Access Under the 2014 Stand-By Arrangement

Author/Editor:

International Monetary Fund. Finance Dept.

Publication Date:

October 3, 2016

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Ukraine requested a 24-month SDR 10.976 billion exceptional access Stand-By Arrangement (SBA) in April 2014 against the backdrop of large internal and external imbalances, considerable domestic political upheaval, and an emerging conflict in the East. Inconsistent macroeconomic policies in the preceding years had led to a potent combination of an overvalued pegged exchange rate, large and growing twin deficits, and a weak banking system by end-2013. Domestic political turmoil and conflict in Crimea and Eastern Ukraine added to these problems, creating an urgent need for financial assistance from the international community. The 2014 SBA (of about $17 billion) was Ukraine’s third since 2008.

Series:

Country Report No. 16/320

Subject:

Banking sector Economic indicators Energy sector Ex post assessments Exceptional use of Fund resources Fiscal policy Fiscal reforms Fund policies Monetary policy Press releases Stand-by arrangements Ukraine