This web page presents information about the work of the IMF in Ukraine, including the activities of the IMF Resident Representative Office. Additional information can be found on the Ukraine and IMF country page, including IMF reports and Executive Board documents that deal with Ukraine.

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At a Glance: Ukraine's Relations with the IMF

  • Current IMF membership: 189 countries
  • Ukraine joined the Fund on September 3, 1992; Article VIII
  • Quota: SDR 1,372.00 million
  • The last Article IV Executive Board Consultation was on April 3, 2017

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News and Highlights

The IMF Resident Representative in Ukraine Exchanges Views with Young Journalists

June 07 2019

The IMF Resident Representative Mr. Gosta Ljungman spoke to students at the journalism program at Kyiv School of Economics. The program trains young media professionals pursuing career in economics and business journalism. The dialogue covered IMF’s activities and institutional mandate, its engagement with Ukraine and the Fund’s media relations. The IMF Resident Representative website was featured as an example of a platform that facilitates communication with public and media, and serves as a repository of information on the Fund’s relations with Ukraine.

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“The business environment can never be truly sound if corruption is allowed”.  The interview of the IMF Resident Representative in Ukraine, Mr. Goesta Ljungman, to the Financial Club
February 12 2019


In Ukrainian

In Russian

 

IMF Resident Representative in Ukraine Meets with Graduates from Kyiv School of Economics’ Journalist Program


On January 24, 2019, Gosta Ljungman met with graduates from Kyiv School of Economics’ Journalist Program. Ljungman presented the organization and work of the IMF, and the various types of engagement the IMF has with Ukraine. He discussed the IMF’s assessment of the Ukrainian economy and reform priorities to ensure stability, growth and improved living standards for the population. Ljungman stressed the importance of media in promoting an active and well-informed public debate about economic issues, and gave an overview of the various support the IMF gives to journalistic development. The IMF sought to be as open and transparent as possible, engaging with media in a variety of different forms. Ljungman also shared his personal experience with Ukrainian media—pointing out some risks in the modern fast-paced media climate. Overall, he was impressed with the quality and integrity of economic reporting in Ukraine.

IMF Resident Representative in Ukraine Visits the City of Vinnytsia

On December 7, 2018, the IMF Resident Representative in Ukraine Mr. Gosta Ljungman visited the city of Vinnytsia. During the visit, he met the oblast and city management, the staff of the local district heating company and representatives of business community. The issues discussed during these meetings included the impact of medium term budgeting on municipal finance, and the adjustment of heating tariffs to reflect the recent revision of gas prices. Mr. Ljungman also delivered an open lecture to economics students at universities located in Vinnytsya on the Role of the IMF, and its work in Ukraine. The lecture was followed by an intensive Q&A session, where students inquired about the IMF’s work on reducing income inequality, promotion of growth, and policies to support small and medium-sized business.

IMF Resident Representative in Ukraine visits Bila Tserkva - November 30, 2018

The IMF Resident Representative in Ukraine Gösta Ljungman, together with a team from the IMF’s Fiscal Affairs Department, visited the city of Bila Tserkva in Kyiv Oblast on November 30th. The mission met Mayor Hennadyj Dykyj, his deputy Inna Novohrebelska and CFO Svitlana Tereschuk. The discussion centered on fiscal decentralization, medium-term budget frameworks at the subnational level, performance-based budgeting and policies for utility tariffs.

IMF Resident Representative Gosta Ljungman visits Kyiv-Mohyla University as a guest lecturer. November 20 2018

Mr. Gosta Ljungman, IMF Resident Representative in Ukraine, gave an open lecture to the students of the Economic Department of Kyiv-Mohyla National University. He spoke about the history of the Fund, its composition and organizational structure, types of assistance the organization is providing to its members and, of course, about IMF-supported programs with Ukraine.

On November 13, 2018, IMF Resident Representative Gosta Ljungman presented the latest update of the European Regional Economic Outlook to Ukraine’s economic journalists.

In his presentation, Ljungman pointed out that while economic activity in Europe continued to expand in the first half of 2018, it did so at a slower-than-expected pace. The external environment is becoming less supportive, and is expected to soften even further in 2019, due to slowing global demand, trade tensions and higher energy prices. However, with average growth of 2.3 percent in 2018 and 1.9 percent in 2019, output is above its potential in most European countries. Ljungman also pointed out that risks have increased, including from escalating trade tensions and tightening global financial conditions. He also drew attention to the need to accelerate structural reforms, address demographic challenges and reverse increasing inequalities. Ljungman also discussed policy priorities for different groups of countries. Where there are significant vulnerabilities, countries should focus on reducing public debt and build fiscal buffers to ensure that they have policy space to cope with future down-turns. In contrast, countries with fiscal space and stronger-than-warranted external positions should increase public investment to lift the potential of their economies. Throughout his presentation, Ljungman highlighted the economic outlook of Ukraine, and the specific challenges facing policy makers.

  • Прес-реліз - Пан Йоста Люнгман, Постійний Представник Міжнародного Валютного Фонду (МВФ) в Україні, зробив сьогодні у Києві наступну заяву:

    “У 2016 році міжнародні партнери України підтримали рішення уряду та Національного Банку України (НБУ) націоналізувати Приватбанк, оскільки це був єдиний ефективний засіб захистити вкладників банку – українських фізичних і юридичних осіб – і стабільність фінансової системи. І хоча це рішення потребувало 160 мільярдів гривень українських платників податків на відновлення платоспроможності банку, воно забезпечило життєздатність Приватбанку на довгу перспективу, врятувало кошти мільйонів українських громадян і зміцнило економічне самопочуття країни. З огляду на такі результати, ми вітаємо реформу корпоративного врядування Приватбанку, що її очолює незалежна Наглядова Рада, і трансформацію бізнес-моделі банку, що вже позитивно позначилася на показниках та стійкості банківської систему в цілому. Ми продовжуємо підтримувати зусилля НБУ з реформування фінансового сектору України, включно із запровадженням принципів пруденційного корпоративного врядування, так само як і зусилля Міністерства фінансів, спрямовані на реформування корпоративного врядування у державних банках. Важливо, щоби влада продовжувала свої зусилля щодо відшкодування втрат колишніми власниками та пов’язаними особами проблемних банків. Міжнародні партнери України ретельно відстежуватимуть події в цій сфері”.

    April 19, 2019

  • Press Release - Mr. Goesta Ljungman, the International Monetary Fund (IMF) Resident Representative in Ukraine, made the following statement today in Kyiv:

    In 2016 Ukraine’s international partners supported the decision of the government and the National Bank of Ukraine (NBU) to nationalize PrivatBank, as the only effective method of protecting the bank’s depositors – the Ukrainian people and businesses – and the stability of the financial system. While this required the injection of about UAH 160 billion in Ukrainian taxpayer funds to restore the bank’s solvency, it secured PrivatBank’s long-term viability, safeguarded the money of millions of Ukrainian citizens, and strengthened the country’s economic health. In light of this, we welcome the reform of PrivatBank’s corporate governance, led by an independent Supervisory Board, and the transformation of its business model, which has already resulted in stronger performance and sustainability of the entire banking system. We continue to support the efforts of the NBU to reform Ukraine’s financial sector, including by introducing prudent corporate governance principles, and the Ministry of Finance’s efforts to reform corporate governance in state-owned banks. It is important that the authorities continue their efforts to recover losses from former owners and related parties of failed banks. Ukraine’s international partners will be closely monitoring developments in this area.

    April 19, 2019

  • The Financial Counsellor and Director of the International Monetary Fund’s Monetary and Capital Markets Department visits Ukraine to meet with the principal stakeholders

    January 30, 2019

  • IMF Resident Representative in Ukraine: With Continued Good Policies and Reforms, Ukraine Should See Economic Success (Guest Lecture at Open Ukraine Foundation)

    October 24, 2018

  • Press Release

    Statement by Goesta Ljungman, Resident Representative in Ukraine, on the Next IMF Mission

    August 13, 2018

More

November 8, 2018


Read the Report