Ukraine : First Review Under the Stand-By Arrangement, Requests for Waivers of Nonobservance of Performance Criteria, and Rephasing of Purchases Under the Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion

Author/Editor:

International Monetary Fund

Publication Date:

June 2, 2009

Electronic Access:

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Summary:

Ukraine’s economic downturn has been sharper than originally envisaged, mostly reflecting the deterioration of the external environment. The staff report examines Ukraine’s first review under the Stand-By Arrangement, requests for Waivers of Nonobservance of Performance Criteria, and Rephasing of Purchases Under the Arrangement. A flexible exchange rate policy, supported by base money targets and a transparent intervention strategy, remains a key component of the program. Given balance sheet effects associated with unhedged foreign currency borrowing, the central bank stands ready to take action to avoid excessive exchange rate depreciation.

Series:

Country Report No. 09/173

Subject:

English

Publication Date:

June 2, 2009

ISBN/ISSN:

9781451839166/1934-7685

Stock No:

1UKREA2009002

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

76

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