## Ukraine: Second Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria: Staff Report; Press Release on the Executive Board Discussion

_IMF Staff Country Reports, September 9, 2009_

## Source details

**Canonical URL:** [Ukraine: Second Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria: Staff Report; Press Release on the Executive Board Discussion](https://www.imf.org/en/publications/cr/issues/2016/12/31/ukraine-second-review-under-the-stand-by-arrangement-and-request-for-modification-of-23258)

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## Bibliographic details
- Authors: Arrangement, Request
- Published: September 9, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451839173.002

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### Key findings
- Policy implementation has been broadly in line with the program.
- The end-May quantitative performance criteria on base money, net international reserves, and the general government balance were met.
- The authorities made progress in the resolution of systemic problem banks and in preparing associated legislative actions.
- IMF staff welcomes the recent measures to improve the functioning of the foreign exchange market.

### Program implementation and fiscal/monetary outcomes
- Broad alignment of policy implementation with the Stand-By Arrangement.
- Specific quantitative performance criteria met at end-May: base money; net international reserves; general government balance.

### Financial sector actions and bank resolution
- Progress reported on resolving systemic problem banks.
- Associated legislative actions were being prepared to support bank resolution efforts.
- Subject tags in the report emphasize: Bank resolution, Banking, Creditor bail-in, Financial crises.

### Foreign exchange market and monetary policy
- Recent measures to improve the functioning of the foreign exchange market were welcomed by IMF staff.
- Keywords indicate focus areas including: hryvnia, monetary policy stance, and the functioning of foreign exchange market.

### Policy implications and priorities
- Continue implementing program-consistent fiscal and monetary policies to maintain compliance with quantitative performance criteria.
- Advance legislative actions to support systemic bank resolution and creditor mechanisms.
- Maintain measures that enhance foreign exchange market functioning to support macroeconomic stability.

*Ukraine: Second Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria: Staff Report; Press Release on the Executive Board Discussion, September 9, 2009*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/ukraine-second-review-under-the-stand-by-arrangement-and-request-for-modification-of-23258_