Ukraine: Stand-By Arrangement: Review Under the Emergency Financing Mechanism

International Monetary Fund

No 2009/017, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the two-year Stand-By-Arrangement for Ukraine under the Emergency Financing Mechanism. Output growth is turning negative on the back of a large terms-of-trade shock and the ongoing credit crunch. The deterioration of the economic and financial situation is contributing to an increase in program implementation risks. Policy implementation is in line with the program. The authorities have introduced a flexible exchange rate regime, tightened monetary policy, and have taken measures to contain the 2008 government deficit.

Keywords: ISCR; CR; bank; hryvnia; bank share; bank recapitalization scheme; bank recapitalization program; public finance; goods terms of trade; terms-of-trade shock; exchange rate volatility; credit portfolio; Exchange rate flexibility; Exchange rates; Currencies; Exchange rate arrangements; Exchange rate policy; Western Europe; Global (search for similar items in EconPapers)
Pages: 13
Date: 2009-01-22
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=22636 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2009/017

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().