Ukraine: Request for Stand-by Arrangement—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion, and Statement by the Executive Director for Ukraine
IMF Staff Country Reports, December 31, 2008
Source details
- Canonical URL
- Ukraine: Request for Stand-by Arrangement—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion, and Statement by the Executive Director for Ukraine
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Bibliographic details
- Published: December 31, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451839142.002
Overview
- The staff report discusses economic developments and policies in the context of a Request for a Stand-by Arrangement with officials of Ukraine.
- Key projection conditional on global dynamics: assuming a global recovery in the second half of 2009, the Ukrainian economy could be back at its estimated potential growth rate by 2011.
Economic projections and scenarios
- Baseline scenario:
- Assuming a global recovery in the second half of 2009, recovery to estimated potential growth by 2011.
- Implicit downside risk:
- Slower or delayed global recovery would imply a later return to potential growth and larger financing needs (text notes the contingent nature of the projection).
Financing gaps and policy implications
- Large financing gaps arise owing to debt rollover complications.
- Assessment of options to meet financing gaps:
- These gaps can only be partially met by substantial domestic adjustment and funding from other sources.
- Policy implication:
- Significant external support or exceptional access mechanisms are presumed necessary in the event of capital account crises.
Exceptional access and Fund facilities
- Presumption articulated in the report:
- Exceptional access in capital account crises will be provided using resources of the Supplemental Reserve Facility (SRF).
Subjects and keywords (as listed in the source)
- Subjects: Banking, Credit, Currencies, Exchange rate flexibility, External debt, Foreign exchange, Money, Public debt
- Keywords: arrangement, arrangement informational annex, budget financing constraint, CR, Credit, credit policy, Currencies, Exchange rate flexibility, Fund GRA credit, Global, incomes policy adjustment, ISCR, request, stand-by, stand-by arrangement informational annex
International Monetary Fund. "Ukraine: Request for Stand-by Arrangement—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion, and Statement by the Executive Director for Ukraine", December 31, 2008.
Content in this bundle
- Ukraine: Request for Stand-by Arrangement—Staff Report; Staff Supplement; Press