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December 16, 2013
June 29, 2012
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December 22, 2010
July 28, 2010

Ukraine: Financial Position in the Fund

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Ukraine and the IMF
Updated April 15, 2014

On December 16, 2013, the Executive Board of the International Monetary Fund (IMF) concluded the 2013 Article IV consultation and the first Post Program Monitoring Review, as well as the Ex-Post Evaluation of Exceptional Access under the 2010 Stand-By Arrangement with Ukraine.

Under Article IV of its Articles of Agreement, the IMF has a mandate to exercise surveillance over the economic, financial and exchange rate policies of its members in order to ensure the effective operation of the international monetary system. The IMF’s appraisal of such policies involves a comprehensive analysis of the general economic situation and policy strategy of each member country. IMF economists visit the member country, usually once a year, to collect and analyze data and hold discussions with government and central bank officials. Upon its return, the staff submits a report to the IMF’s Executive Board for discussion. The Board’s views are subsequently summarized and transmitted to the country’s authorities.

Post-Program Monitoring provides for closer monitoring (usually twice a year) of the circumstances and policies of members whose Fund-supported program has expired but that continue to have significant Fund credit outstanding. It is intended to provide an early warning of policies which could call into question a member’s continued progress toward external viability and thus could imperil Fund resources, and a mechanism for bringing this to the attention of the country’s authorities and the Executive Board and stimulating action to improve the situation.

In 2002, the IMF Executive Board decided to conduct ex-post evaluations of arrangements involving exceptional access to the Fund’s General Resource Account. The purpose of these evaluations, which have to be completed within one year of the end of the arrangement, is to provide a critical and frank discussion of whether justifications presented at the outset of the arrangement—including the justification for exceptional access—were consistent with Fund policies and to review performance under the Fund supported program. A staff team prepares a report that is discussed with the country’s authorities and presented to the Executive Board for discussion.

The authorities need more time to conclude their consideration of the two staff reports - on the 2013 Article IV/Post-Program Monitoring and on the Ex-Post Evaluation of Exceptional Access under the 2010 Stand-By Arrangement with Ukraine.

The last Article IV Executive Board Consultation was on December 16, 2013. Listed below are items related to Ukraine, in reverse chronological order (you can also view items by category).

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October 26, 2008 -- Press Release: IMF Announces Staff Level Agreement with Ukraine on US$16.5 Billion Loan
October 26, 2008 -- IMF Survey: IMF Set to Lend $16.5 Billion to Ukraine
The International Monetary Fund announces outline plans to lend $16.5 billion to Ukraine to support a policy package the country has assembled to maintain economic and financial stability. Ukraine's economy has been affected by the global financial turmoil and falling steel prices.
October 26, 2008 -- IMF Survey: IMF Set to Lend Ukraine $16.5 Billion, In Talks With Hungary
The IMF says it has reached a tentative agreement with Ukraine to lend the eastern European country $16.5 billion to help it combat a series of economic problems tied to the international financial turmoil and announced broad agreement with Hungary on a set of policies designed to bolster near-term stability.
October 11, 2008 -- IMFC Statement by Wouter Bos
On behalf of: Republic of Armenia, Bulgaria, Bosnia and Herzegovina, Cyprus, Georgia, Republic of Croatia, Israel, Republic of Moldova, former Yugoslav Republic of Macedonia, Kingdom of the Netherlands-Netherlands, Romania, Ukraine. PDF File Size: 321Kb
July 09, 2008 -- Ukraine: 2008 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Ukraine
Series: Country Report No. 08/227
July 09, 2008 -- Ukraine: Selected Issues
Series: Country Report No. 08/228
June 12, 2008 -- Public Information Notice: IMF Executive Board Concludes 2008 Article IV Consultation with Ukraine
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
June 01, 2008 -- Resolving a Large Contingent Fiscal Liability: Eastern Europe Experience
Author/Editor: Flanagan, Mark J
Series: Working Paper No. 08/159
April 16, 2008 -- Ukraine -- 2008 Article IV Consultation Preliminary Conclusions of the Mission
Describes the preliminary findings of IMF staff at the conclusion of certain missions (official staff visits, in most cases to member countries). Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, and as part of other staff reviews of economic developments.
April 14, 2008 -- Transcript of the Development Committee Press Briefing by Agustín Carstens, Chairman, Development Committee; Robert B. Zoellick, President, World Bank Group; and Dominique Strauss-Kahn, Managing Director, IMF
April 12, 2008 -- IMFC Statement by Wouter Bos, Minister of Finance, the Netherlands
On behalf of: Republic of Armenia, Bulgaria, Bosnia and Herzegovina, Cyprus, Georgia, Republic of Croatia, Israel, Republic of Moldova, former Yugoslav Republic of Macedonia, Montenegro, Kingdom of the Netherlands-Netherlands, Romania, Ukraine. PDF File Size: 155Kb
December 17, 2007 -- Press Release: Statement at the Conclusion of an IMF Staff Mission to Ukraine
June 05, 2007 -- Press Release: Statement by IMF First Deputy Managing Director John Lipsky at the Conclusion of his Visit to Ukraine
May 01, 2007 -- Impact on Intra-European Trade Agreements, 1990-2005: Policy Implications for the Western Balkans and Ukraine
Author/Editor: Herderschee, Han | Qiao, Zhaogang
Series: Working Paper No. 07/126
April 18, 2007 -- Transcript of a Press Briefing on the Economic Outlook and Issues in Europe, by Michael Deppler, Director, IMF European Department
April 14, 2007 -- Opening Remarks by Michael Deppler, Director, European Department, International Monetary Fund, at a Press Briefing on Economic Outlook and Issues in Europe
April 14, 2007 -- IMFC Statement by Mr. Nout Wellink, President of the Nederlandsche Bank
On behalf of: Republic of Armenia, Bulgaria, Bosnia and Herzegovina, Cyprus, Georgia, Republic of Croatia, Israel, Republic of Moldova, former Yugoslav Republic of Macedonia, Montenegro, Kingdom of the Netherlands-Netherlands, Romania, Ukraine. PDF File Size: 747Kb
February 05, 2007 -- Ukraine: Selected Issues
Series: Country Report No. 07/47
February 05, 2007 -- Ukraine: Statistical Appendix
Series: Country Report No. 07/48
February 05, 2007 -- Ukraine: 2006 Article IV Consultation - Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
Series: Country Report No. 07/50

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