Ukraine: Request for Stand-By Arrangement and Cancellation of Current Arrangement Staff Report; Staff Supplement; Press Release on the Executive Board Discussion
IMF Staff Country Reports, August 6, 2010
Source details
- Canonical URL
- Ukraine: Request for Stand-By Arrangement and Cancellation of Current Arrangement Staff Report; Staff Supplement; Press Release on the Executive Board Discussion
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Bibliographic details
- Authors: Arrangement, Cancellation
- Published: August 6, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455206841.002
Executive summary
- The Stand-By Arrangement (SBA) program helped restore macroeconomic and financial stability in Ukraine after the global financial crisis.
- Executive Directors welcomed the new SBA as aimed to:
- consolidate public finances,
- restore banking system soundness,
- develop a more robust monetary policy framework.
- Directors emphasized that strict adherence to the program's policies will help deepen market access and facilitate exit from IMF financial support.
Major findings and analysis
- The SBA program contributed to restoring macroeconomic and financial stability following the global financial crisis.
- Key areas identified for attention:
- public finances (consolidation),
- banking system soundness,
- monetary policy framework strengthening,
- pension reforms to catalyze financing,
- implementation of tax and expenditure policies.
- Directors stressed that implementing these reforms and measures is critical to regain market access.
Policy recommendations
- Implement tax and expenditure policies as specified under the SBA program.
- Advance pension reforms to catalyze financing.
- Implement measures to strengthen the banking system to restore soundness.
- Develop and implement a more robust monetary policy framework.
- Adhere strictly to the program’s policies to deepen market access and facilitate exit from IMF financial support.
Subject focus and keywords
- Subject: Banking, Credit, Debt service, Expenditure, External debt, Money, Pension spending, Public debt
- Keywords: cancellation, cancellation of current arrangement, CR, Credit, current arrangement, Debt service, discussion of Ukraine, Europe, Global, GRA credit, IMF's article, ISCR, Pension spending, request, request for stand-by arrangement, SDR, Ukraine
Source: Ukraine: Request for Stand-By Arrangement and Cancellation of Current Arrangement Staff Report; Staff Supplement; Press Release on the Executive Board Discussion (August 6, 2010).