Ukraine: Second Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria: Staff Report; Press Release on the Executive Board Discussion
IMF Staff Country Reports, September 9, 2009
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- Ukraine: Second Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria: Staff Report; Press Release on the Executive Board Discussion
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Bibliographic details
- Authors: Arrangement, Request
- Published: September 9, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451839173.002
Key findings
- Policy implementation has been broadly in line with the program.
- The end-May quantitative performance criteria on base money, net international reserves, and the general government balance were met.
- The authorities made progress in the resolution of systemic problem banks and in preparing associated legislative actions.
- IMF staff welcomes the recent measures to improve the functioning of the foreign exchange market.
Program implementation and fiscal/monetary outcomes
- Broad alignment of policy implementation with the Stand-By Arrangement.
- Specific quantitative performance criteria met at end-May: base money; net international reserves; general government balance.
Financial sector actions and bank resolution
- Progress reported on resolving systemic problem banks.
- Associated legislative actions were being prepared to support bank resolution efforts.
- Subject tags in the report emphasize: Bank resolution, Banking, Creditor bail-in, Financial crises.
Foreign exchange market and monetary policy
- Recent measures to improve the functioning of the foreign exchange market were welcomed by IMF staff.
- Keywords indicate focus areas including: hryvnia, monetary policy stance, and the functioning of foreign exchange market.
Policy implications and priorities
- Continue implementing program-consistent fiscal and monetary policies to maintain compliance with quantitative performance criteria.
- Advance legislative actions to support systemic bank resolution and creditor mechanisms.
- Maintain measures that enhance foreign exchange market functioning to support macroeconomic stability.
Ukraine: Second Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria: Staff Report; Press Release on the Executive Board Discussion, September 9, 2009