Ukraine: 2023 Article IV Consultation, Second Review Under the Extended Arrangement Under the Extended Fund Facility, and Requests for Modification of Performance Criteria and a Waiver of Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Ukraine
IMF Staff Country Reports, December 11, 2023
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- Ukraine: 2023 Article IV Consultation, Second Review Under the Extended Arrangement Under the Extended Fund Facility, and Requests for Modification of Performance Criteria and a Waiver of Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Ukraine
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Bibliographic details
- Published: December 11, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400261398.002
Key findings and program implementation
- The authorities have made strong progress toward their EFF commitments under challenging conditions.
- All applicable quantitative performance criteria were met through end-June.
- Indicative targets were met through end-September.
- The majority of structural benchmarks were met through end-October.
- The Ukrainian economy continues to show remarkable resilience, although the outlook remains subject to exceptionally high war-related uncertainty.
Economic outlook and risks
- Continued strong ownership and reform momentum are necessary to safeguard macroeconomic stability.
- The outlook depends on:
- Domestic revenue mobilization.
- Timely and predictable external financing.
- The evolution of war-related risks, which are described as exceptionally high.
Policy priorities and recommendations
- Strengthen domestic revenue mobilization.
- Ensure timely and predictable external financing to support fiscal and macroeconomic stability.
- Advance institutional reforms to underpin long-term recovery and resilience.
- Facilitate reconstruction efforts while promoting a green recovery aligned with the path to EU accession.
- Pursue decisive reforms in the context of the path to EU accession to stimulate return of migrants and investment flows.
Reconstruction, recovery, and EU accession
- Well-managed post-war reconstruction coupled with decisive reforms on the path to EU accession could:
- Stimulate the return of migrants.
- Attract investment flows needed for a sustained, resilient and green recovery.
- Bolster Ukraine’s broader development goals.
Source: International Monetary Fund.
Content in this bundle
- 1ukrea2023003