Ukraine: First Review Under the Stand-By Arrangement, Requests for Extension and Rephasing of Access of the Arrangement, Waivers of Nonobservance of a Performance Criterion, Financing Assurances Review, and Monetary Policy Consultation-Press Release; Staff Report; and Statement by the Executive Director for Ukraine

After a number of critical setbacks and delays in the 16 months since program approval, the authorities have taken important corrective actions to address shocks to program objectives. Early tension around the authorities’ commitment to uphold the independence of the National Bank of Ukraine require...

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Bibliographic Details
Corporate Author: International Monetary Fund European Dept
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2021
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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653 |a Infectious & contagious diseases 
653 |a Banks 
653 |a Finance 
653 |a Corporate Finance and Governance: Government Policy and Regulation 
653 |a Industries: Financial Services 
653 |a Deflation 
653 |a Fiscal Policy 
653 |a Exports and Imports 
653 |a Mortgages 
653 |a International Lending and Debt Problems 
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653 |a International Economics 
653 |a Macroeconomics 
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653 |a Depository Institutions 
653 |a Inflation 
653 |a International Organizations 
653 |a Monetary economics 
653 |a Financial institutions 
653 |a International agencies 
653 |a Micro Finance Institutions 
653 |a Fiscal policy 
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653 |a Debts, External 
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653 |a Monetary Policy 
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520 |a After a number of critical setbacks and delays in the 16 months since program approval, the authorities have taken important corrective actions to address shocks to program objectives. Early tension around the authorities’ commitment to uphold the independence of the National Bank of Ukraine required a pause to assess policy continuity and to determine possible corrective actions. A prior action for this review and new commitments by the authorities provide a way forward in protecting a key policy pillar under the program. Similarly, adverse Constitutional Court rulings challenged the anticorruption framework in fundamental ways that required restoring its effectiveness before the review could proceed. In a push to make progress on delayed structural benchmarks, the authorities have recently met seven of the nine structural benchmarks set at the time of the program request