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

October 3, 2016

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Ukraine: Ex Post Evaluation of Exceptional Access Under the 2014 Stand-By Arrangement, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

This paper discusses Ukraine’s Ex Post Evaluation of Exceptional Access Under the 2014 Stand-By Arrangement (SBA) program. The SBA program faced substantial geopolitical risks from the outset, but rightly focused on immediate and medium-term objectives. Important steps were taken under the program. The authorities made effective strides early on, including in longstanding difficult areas, such as raising energy tariffs and largely maintaining a flexible exchange rate, albeit with occasional sizeable interventions. Banking sector diagnostics were conducted for the largest banks and a large number of them were resolved in an orderly manner. Naftogaz restructuring also began under the SBA, as did anticorruption and governance reform.

Subject: Balance of payments, Banking, Capital outflows, Exchange rates, External debt, Foreign exchange, Public debt, Tariffs, Taxes

Keywords: Capital outflows, CR, Disbursement of SDR, Exchange rates, Executive Board's discussion, Global, Government, ISCR, Post evaluation of the Stand-By Arrangement, Reducing inflation, Reform agenda, Tariffs

Publication Details

Pages:

56
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/320
Stock No:

1UKREA2016009
ISBN:

9781475543506
ISSN:

1934-7685

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