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December 16, 2013
June 29, 2012
November 11, 2011
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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April 15, 2014 -- New Transcript of an IMF Press Conference on Europe
April 14, 2014 -- New Press Release: Statement on Ukraine
April 12, 2014 -- New Transcript of the International Monetary and Financial Committee (IMFC) Press Briefing
April 11, 2014 -- New IMFC Statement by Jeroen Dijsselbloem, Minister of Finance, The Netherlands
On behalf of: Republic of Armenia, Belgium, Bulgaria, Bosnia and Herzegovina, Cyprus, Georgia, Republic of Croatia, Israel, Luxembourg, Republic of Moldova, former Yugoslav Republic of Macedonia, Montenegro, Kingdom of the Netherlands-Netherlands, Romania, Ukraine. PDF File Size: 212Kb
April 10, 2014 -- New Transcript of a Press Briefing by IMF Managing Director Christine Lagarde
April 08, 2014 -- New Transcript of a Press Briefing on the World Economic Outlook (WEO)
March 27, 2014 -- Press Release: IMF Announces Staff Level Agreement with Ukraine on US$14-18 Billion Stand-By Arrangement
March 27, 2014 -- Transcript of a Press Briefing by William Murray, Deputy Spokesman, Communications Department, International Monetary Fund4
March 20, 2014 -- Press Release: Statement by IMF Mission to Ukraine
March 13, 2014 -- Statement by IMF Managing Director Christine Lagarde on Ukraine
March 13, 2014 -- Transcript of a Press Briefing by Gerry Rice, Director, Communications Department, International Monetary Fund
March 12, 2014 -- Press Release: Statement by IMF Managing Director Christine Lagarde on Ukraine
March 07, 2014 -- Press Release: Statement by IMF European Department Director Reza Moghadam on his Visit to Ukraine
March 05, 2014 -- IMF Survey : IMF Sends Fact-Finding Team to Ukraine
An IMF staff team is in Kiev to conduct a technical, independent analysis of the economic situation and to begin a preliminary dialog with Ukrainian authorities on a possible Fund-supported economic program.
February 27, 2014 -- Press Release: Statement by IMF Managing Director Christine Lagarde on Ukraine
February 27, 2014 -- Transcript of a Press Briefing by Gerry Rice, Director, Communications Department, International Monetary Fund
February 23, 2014 -- Transcript of a Press Conference by IMF Managing Director Christine Lagarde at the end of a G-20 Meeting of Finance Ministers and Central Bank Governor Meeting
February 06, 2014 -- Transcript of a Press Briefing by Gerry Rice, Director, Communications Department, International Monetary Fund
December 19, 2013 -- Press Release: IMF Executive Board Concludes 2013 Article IV Consultation, First Post-Program Monitoring, and Ex Post Evaluation of Exceptional Access with Ukraine
December 12, 2013 -- Transcript of a Press Briefing by Gerry Rice, Director, Communications Department, International Monetary Fund

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