Ukraine : Second Review Under the Extended Fund Facility and Requests for Waivers of Non-Observance of Performance Criteria, Rephasing of Access and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Ukraine

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

October 3, 2016

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The authorities have continued to make progress in implementing the program. Notwithstanding the delay in completing this review, mainly related to a difficult approval process of the 2016 budget and political tensions culminating in a change in government in April 2016, important policy measures have been taken since the last review. This includes a sizable fiscal adjustment; a successful completion of the debt operation with private bondholders; the increase in gas and heating tariffs to full cost recovery; and decisive steps to rehabilitate the banking system. However, progress in tackling corruption, privatizing state-owned enterprises (SOEs), and advancing pension reform has been slower than envisaged against significant political resistance.

Series:

Country Report No. 16/319

Subject:

English

Publication Date:

October 3, 2016

ISBN/ISSN:

9781475543384/1934-7685

Stock No:

1UKREA2016008

Format:

Paper

Pages:

151

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