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

International Monetary Fund

No 2016/320, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; government; post evaluation of the Stand-By Arrangement; disbursement of SDR; reducing inflation; Executive Board's discussion; reform agenda; Tariffs; Exchange rates; Capital outflows; Global (search for similar items in EconPapers)
Pages: 56
Date: 2016-10-03
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