{
  "title": "Ukraine: Request for Extended Arrangement Under the Extended Fund Facility and Cancellation of Stand-By Arrangement",
  "publication": "IMF Staff Country Reports, March 12, 2015",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/ukraine-request-for-extended-arrangement-under-the-extended-fund-facility-and-cancellation-42778",
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  "summary": "This paper discusses Ukraine’s Request for Extended Arrangement Under the Extended Fund Facility (EFF) and Cancellation of Stand-by Arrangement (SBA).",
  "authors": [
    "Arrangement This"
  ],
  "publishDate": "2015-03-12",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Overview",
      "content": "- The paper discusses Ukraine’s Request for Extended Arrangement Under the Extended Fund Facility (EFF) and Cancellation of Stand-by Arrangement (SBA).\n- Despite tangible progress under the SBA, the crisis in Ukraine increased its balance of payments and adjustment needs beyond what can be achieved under the current program.\n- The authorities proposed a new four-year IMF-supported program to decisively address these challenges, restore financial and economic stability, and resolve long-standing structural obstacles to growth.\n- IMF staff supports approval of Ukraine’s four-year Extended Arrangement under the EFF with access equivalent to SDR 12.348 billion."
    },
    {
      "heading": "Key findings and rationale",
      "content": "- Progress under the SBA was tangible but insufficient given the widening balance of payments and adjustment needs caused by the crisis.\n- A longer-duration program (four-year) is necessary to:\n  - Restore financial stability.\n  - Restore economic stability.\n  - Resolve long-standing structural obstacles to growth."
    },
    {
      "heading": "Program features and access",
      "content": "- Duration: four-year IMF-supported program.\n- IMF staff recommendation: approval of an Extended Arrangement under the EFF.\n- Access level recommended: SDR 12.348 billion."
    },
    {
      "heading": "Policy priorities and objectives outlined",
      "content": "- Restore financial and economic stability.\n- Address large external financing needs.\n- Resolve long-standing structural obstacles to growth."
    },
    {
      "heading": "Subject coverage and keywords (as provided)",
      "content": "- Subjects: Banking, Exchange rates, External debt, Foreign exchange, Inflation, Prices, Public debt, Revenue administration\n- Keywords: auction rate, CR, Europe, exchange rate, Exchange rates, fund, FX, FX demand, FX transfer, Global, Inflation, ISCR, NBU, program policy, Ukraine, Ukraine's authorities\n\n---\n\n Content in this bundle\n\n- cr1569\n  - cr1569 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr1569 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/ukraine-request-for-extended-arrangement-under-the-extended-fund-facility-and-cancellation-42778"
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    "Authors: Arrangement This",
    "Published: March 12, 2015",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498353779.002",
    "The paper discusses Ukraine’s Request for Extended Arrangement Under the Extended Fund Facility (EFF) and Cancellation of Stand-by Arrangement (SBA).",
    "Despite tangible progress under the SBA, the crisis in Ukraine increased its balance of payments and adjustment needs beyond what can be achieved under the current program.",
    "The authorities proposed a new four-year IMF-supported program to decisively address these challenges, restore financial and economic stability, and resolve long-standing structural obstacles to growth.",
    "IMF staff supports approval of Ukraine’s four-year Extended Arrangement under the EFF with access equivalent to SDR 12.348 billion.",
    "Progress under the SBA was tangible but insufficient given the widening balance of payments and adjustment needs caused by the crisis.",
    "A longer-duration program (four-year) is necessary to:",
    "Duration: four-year IMF-supported program.",
    "IMF staff recommendation: approval of an Extended Arrangement under the EFF.",
    "Access level recommended: SDR 12.348 billion.",
    "Restore financial and economic stability.",
    "Address large external financing needs.",
    "Resolve long-standing structural obstacles to growth.",
    "Subjects: Banking, Exchange rates, External debt, Foreign exchange, Inflation, Prices, Public debt, Revenue administration",
    "Keywords: auction rate, CR, Europe, exchange rate, Exchange rates, fund, FX, FX demand, FX transfer, Global, Inflation, ISCR, NBU, program policy, Ukraine, Ukraine's authorities",
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