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December 16, 2013
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Ukraine and the IMF
Updated April 15, 2014

On December 16, 2013, the Executive Board of the International Monetary Fund (IMF) concluded the 2013 Article IV consultation and the first Post Program Monitoring Review, as well as the Ex-Post Evaluation of Exceptional Access under the 2010 Stand-By Arrangement with Ukraine.

Under Article IV of its Articles of Agreement, the IMF has a mandate to exercise surveillance over the economic, financial and exchange rate policies of its members in order to ensure the effective operation of the international monetary system. The IMF’s appraisal of such policies involves a comprehensive analysis of the general economic situation and policy strategy of each member country. IMF economists visit the member country, usually once a year, to collect and analyze data and hold discussions with government and central bank officials. Upon its return, the staff submits a report to the IMF’s Executive Board for discussion. The Board’s views are subsequently summarized and transmitted to the country’s authorities.

Post-Program Monitoring provides for closer monitoring (usually twice a year) of the circumstances and policies of members whose Fund-supported program has expired but that continue to have significant Fund credit outstanding. It is intended to provide an early warning of policies which could call into question a member’s continued progress toward external viability and thus could imperil Fund resources, and a mechanism for bringing this to the attention of the country’s authorities and the Executive Board and stimulating action to improve the situation.

In 2002, the IMF Executive Board decided to conduct ex-post evaluations of arrangements involving exceptional access to the Fund’s General Resource Account. The purpose of these evaluations, which have to be completed within one year of the end of the arrangement, is to provide a critical and frank discussion of whether justifications presented at the outset of the arrangement—including the justification for exceptional access—were consistent with Fund policies and to review performance under the Fund supported program. A staff team prepares a report that is discussed with the country’s authorities and presented to the Executive Board for discussion.

The authorities need more time to conclude their consideration of the two staff reports - on the 2013 Article IV/Post-Program Monitoring and on the Ex-Post Evaluation of Exceptional Access under the 2010 Stand-By Arrangement with Ukraine.

The last Article IV Executive Board Consultation was on December 16, 2013. Listed below are items related to Ukraine, in reverse chronological order (you can also view items by category).

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January 22, 2007 -- Public Information Notice: IMF Executive Board Concludes 2006 Article IV Consultation with Ukraine
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
November 30, 2006 -- Ukraine--2006 Article IV Consultation
Describes the preliminary findings of IMF staff at the conclusion of certain missions (official staff visits, in most cases to member countries). Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, and as part of other staff reviews of economic developments.
October 16, 2006 -- IMF Survey:
John Lipsky on IMF role; Liberia; Middle East outlook; Country briefs: Chile, Iceland; Ukraine reforms; Syria's oil crunch; Measuring sovereign risk; Maastricht inflation criterion; financial sector supervision; IMF bookstore; Nouriel Roubini PDF File Size: 771Kb
September 19, 2006 -- Statement by the Hon. Volodymyr Makukha, Alternate Governor of the World Bank Group for Ukraine, at the Joint Annual Discussion
PDF File Size: 276Kb
September 17, 2006 -- IMFC Statement by Gerrit Zalm, Minister of Finance of the Netherlands
On behalf of: Republic of Armenia, Bulgaria, Bosnia and Herzegovina, Cyprus, Georgia, Republic of Croatia, Israel, Republic of Moldova, former Yugoslav Republic of Macedonia, Kingdom of the Netherlands-Netherlands, Romania, Ukraine. PDF File Size: 267Kb
July 01, 2006 -- Ukraine: The Cost of Weak Institutions
Author/Editor: Tiffin, Andrew
Series: Working Paper No. 06/167
April 22, 2006 -- IMFC Statement by Mr. Nout Wellink, President Nederlandsche Bank, Netherlands
On behalf of: Republic of Armenia, Bulgaria, Bosnia and Herzegovina, Cyprus, Georgia, Republic of Croatia, Israel, Republic of Moldova, former Yugoslav Republic of Macedonia, Kingdom of the Netherlands-Netherlands, Romania, Ukraine. PDF File Size: 749Kb
January 23, 2006 -- IMF Survey:
De Rato in Brazil; Article IV summaries: Pakistan, Ukraine, CEMAC; Dawson on IMF's transparency revolution; Capital flight, institutions, and instability; Eastern Caribbean; Germany's regulation; Kazakhstan's non-oil sector; Trade, aid, and growth. PDF File Size: 317Kb
January 12, 2006 -- Transcript of a Press Briefing by Thomas C. Dawson, Director of External Relations Department, International Monetary Fund
November 28, 2005 -- Ukraine: 2005 Article IV Consultation and Ex Post Assessment of Longer-Term Program Engagement - Staff Reports; Staff Supplement; and Public Information Notice on the Executive Board Discussion
Series: Country Report No. 05/415
November 28, 2005 -- Ukraine: Selected Issues
Series: Country Report No. 05/416
November 28, 2005 -- Ukraine: Statistical Appendix
Series: Country Report No. 05/417
November 11, 2005 -- Public Information Notice: IMF Executive Board Concludes 2005 Article IV Consultation with Ukraine
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
September 24, 2005 -- Statement by Mr. Gerrit Zalm, Minister of Finance, Netherlands
On behalf of: Republic of Armenia, Bulgaria, Bosnia and Herzegovina, Cyprus, Georgia, Republic of Croatia, Israel, Republic of Moldova, former Yugoslav Republic of Macedonia, Kingdom of the Netherlands-Netherlands, Romania, Ukraine. PDF File Size: 60Kb
August 05, 2005 -- Press Release: Statement by IMF Managing Director Rodrigo de Rato at the Conclusion of his Visit to Ukraine
August 03, 2005 -- Press Release: Statement by IMF Staff Mission to Ukraine
August 02, 2005 -- Ukraine -- 2005 Article IV Consultation, Preliminary Conclusions of the IMF Mission
Describes the preliminary findings of IMF staff at the conclusion of certain missions (official staff visits, in most cases to member countries). Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, and as part of other staff reviews of economic developments.
July 01, 2005 -- Haircuts: Estimating Investor Losses in Sovereign Debt Restructurings, 1998-2005
Author/Editor: Sturzenegger, Federico | Zettelmeyer, Jeromin
Series: Working Paper No. 05/137
June 12, 2005 -- The Quality of Fiscal Adjustment, Remarks by Rodrigo de Rato, Managing Director of the International Monetary Fund
At the Dutch Constituency, Tbilisi, Georgia
June 01, 2005 -- Too Much of a Good Thing? Credit Booms in Transition Economies: The Cases of Bulgaria, Romania, and Ukraine
Author/Editor: Duenwald, Christoph | Gueorguiev, Nikolay | Schaechter, Andrea
Series: Working Paper No. 05/128

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