Ukraine: Ex Post Evaluation of Exceptional Access Under the 2008 Stand-By Arrangement

International Monetary Fund

No 2011/325, IMF Staff Country Reports from International Monetary Fund

Abstract: Ukraine was one of the countries hardest hit by the global economic and financial crisis; it was also one of the first countries supported by a Stand-By Arrangement (SBA). The Ex Post Evaluation of Exceptional Access Under the 2008 SBA reveals that the achievement of program objectives was mixed, with core short-term objectives largely met, but little progress made toward meeting medium-term objectives. The banking system stabilized, the current account adjusted quickly, social arrears and sovereign default were avoided, and a gradual economic recovery started from mid-2009.

Keywords: ISCR; CR; post evaluation; evaluation; fund's General Resource Account; purpose; monetary policy; national bank; current account; government ability; financial crisis; real GDP; private sector; letter of intent; Fuel prices; Commercial banks; Bank resolution; Budget planning and preparation; Global (search for similar items in EconPapers)
Pages: 39
Date: 2011-11-18
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