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

Ukraine: Financial Position in the Fund

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Ukraine and the IMF
Updated April 24, 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 01, 2001 -- How Does Privatization Work? Ownership Concentration and Enterprise Performance in Ukraine
Author/Editor: Pivovarsky, Alexander
Series: Working Paper No. 01/42
March 26, 2001 -- Resolving and Preventing Financial Crises: The Role of the Private Sector -- An IMF Issues Brief
It is important to encourage the involvement of private sector creditors in the resolution of crises, by reaching cooperative solutions to payment problems. If efforts to reach agreement on a voluntary approach are not successful, creditors may have to accept some constraint on their immediate demands for repayment and shoulder some losses.
March 12, 2001 -- Transcript of a Press Briefing by Thomas Dawson, Director,External Relations Department
No real announcements. On Friday, March 16th, we'll open press registration for the Spring Meetings. The forms, registration forms, and information about the Meetings are on the Fund and World Bank websites
February 15, 2001 -- Transcript of a press briefing by Thomas Dawson, Director IMF External Relations Department
I'd like to draw your attention to the latest quarterly report on emerging markets financing that's now published on our website. We have now completed a full year of these published quarterly reports.
February 05, 2001 -- Ukraine after 10 Years of Transition Experiences -- Speech by John Odling-Smee, Director, European II Department
Given at the National University Kyiv-Mohyla Academy, Kiev
February 05, 2001 -- Ukraine: Statistical Appendix
Series: Country Report No. 01/28
January 19, 2001 -- Public Information Notice: IMF Concludes Article IV Consultation with Ukraine
Public Information Notices (PINs) form part of the IMF's efforts to promote transparency of the IMF's views and analysis of economic developments and policies.
December 19, 2000 -- News Brief: IMF Completes Fourth Review for Ukraine
December 05, 2000 -- Ukraine Letter of Intent, December 5, 2000
This Letter of Intent of the government of Ukraine describes the policies that Ukraine intends to implement in the context of its request for financial support from the IMF.
November 17, 2000 -- Transcript of a Press Briefing by Thomas Dawson, Director, IMF External Relations Department
Discussions are continuing on a fiscal pact between the Argentine Government and provincial governors. A Fund mission will go to Buenos Aires when agreement is reached. As the Managing Director indicated in his statement last Friday, the IMF stands ready to support a program which, based on our judgment, should promote market confidence and a return to growth.
October 13, 2000 -- Adjusting to a Globalized Economy -- Address by Eduardo Aninat
Given at the Second Annual Americas’ Forum of The Institute of the Americas and the University of California, San Diego, La Jolla, California
September 28, 2000 -- Statement by the Hon. Igor Mityukov, Alternate Governor of the IMF for Ukraine, at the Joint Annual Discussion
PDF File Size: 94Kb
September 24, 2000 -- Intervention by Mr. Gerrit Zalm, Minister of Finance of the Netherlands International Monetary and Financial Committee Meeting
The International Monetary and Financial Committee statement on behalf of the constituency comprising Armenia, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Georgia, Israel, former Yugoslav Republic of Macedonia, Moldova, The Netherlands, Romania, and Ukraine.
September 20, 2000 -- Transcript of a Press Conference by The Managing Director of the IMF Prior to the 2000 Annual Meetings
My vision of the IMF is founded on two major challenges: first, to adjust the Fund to the changes in global financial markets and focus on its core responsibilities in this context and, second, to make the Fund an active and efficient part of the team to make globalization work for the benefit of all.
September 06, 2000 -- Ukraine -- Misreporting of Information on the International Reserves of the National Bank of Ukraine
IMF Executive Board Decision
September 06, 2000 -- News Brief: IMF Finds Ukraine National Bank Misreported International Reserves, Considers Circumstances, and Proposes Measures to Prevent Recurrences
September 01, 2000 -- News Brief: Release of Third PricewaterhouseCoopers Report on the National Bank of Ukraine
August 29, 2000 -- Letter from Victor Yushchenko, Prime Minister of Ukraine and Volodymyr Stelmakh, Governor of the National Bank of Ukraine to IMF Managing Director Horst Köhler on Misreporting of Information on International Reserves
We commit to ensuring the accuracy, integrity and correct definitions of the information that Ukraine provides to the Fund.
August 29, 2000 -- Transcript of a Press Briefing by Thomas Dawson, Director, IMF External Relations Department
I think a number of you know that we regularly publish certain reports before the Annual Meetings, and I’d like just to run through the schedule on two of them.
July 26, 2000 -- Managing the International Monetary System -- Address by Stanley Fischer
Given at the International Law Association Biennial Conference, London

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