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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 16, 2011 -- IMFC Statement by Jan Kees de Jager, Minister of Finance, Ministry of Finance, The Netherlands
On behalf of: Kingdom of the Netherlands-Netherlands Antilles, Republic of Armenia, Bosnia and Herzegovina, Cyprus, Georgia, Republic of Croatia, Israel, Republic of Moldova, former Yugoslav Republic of Macedonia, Montenegro, Romania, Ukraine. PDF File Size: 400Kb
April 15, 2011 -- Transcript of a Press Briefing with IMF European Department Director Antonio Borges
April 13, 2011 -- Transcript of a Press Conference on the International Monetary Fund’s Global Financial Stability Report
March 31, 2011 -- Transcript of a Press Briefing by Caroline Atkinson, Director, External Relations Department, International Monetary Fund
February 17, 2011 -- Ukraine: First Review Under the Stand­­-By Arrangement-Staff Report; Staff Statement; Press Release on the Executive Board Discussion.
Series: Country Report No. 11/52
February 15, 2011 -- Press Release: Statement by the IMF Mission to Ukraine
December 22, 2010 -- IMF Completes First Review Under Stand-By Arrangement with Ukraine and Approves €1.2 Billion Disbursement
December 17, 2010 -- Transcript of a Press Briefing by Caroline Atkinson, Director, External Relations Department International Monetary Fund
December 10, 2010 -- Ukraine -- Letter of Intent, and Technical Memorandum of Understanding, December 10, 2010
PDF File Size: 514Kb
November 16, 2010 -- Press Release: IMF Announces Staff Level Agreement with Ukraine on First Review of the Stand-By Arrangement
November 08, 2010 -- Press Release: IMF Mission Meets with Representatives of Trade Unions in Ukraine
October 20, 2010 -- IMF Survey: Worst Outcome Was Avoided in Emerging Europe, New IMF Study Finds
Even though emerging Europe was hit exceptionally hard by the global financial crisis, a complete meltdown was avoided thanks to swift action by policymakers, underpinned where necessary by international financing, according to the IMF’s new Regional Economic Outlook report.
October 18, 2010 -- Press Release: Statement by IMF Resident Representative in Ukraine
October 09, 2010 -- IMFC Statement by Jan Kees de Jager, Minister of Finance, Ministry of Finance, 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: 305Kb
October 08, 2010 -- Statement by the Hon. Sergiy Tigipko, Governor of the World Bank Group for Ukraine
PDF File Size: 476Kb
October 02, 2010 -- Statement by IMF Managing Director Dominique Strauss-Kahn at the Conclusion of His Visit to Ukraine
September 10, 2010 -- Transcript of a Press Briefing by Caroline Atkinson, Director of the IMF's External Relations Department
August 11, 2010 -- IMF Survey: IMF Approves $15.1 Billion Loan for Ukraine
The IMF's Executive Board has approved a $15.1 billion loan for Ukraine to put the country on the path to fiscal sustainability, reform the gas sector, and shore up the country’s banking system, the institution announced on August 6.
August 06, 2010 -- Ukraine - Request for Stand - By Arrangement and Cancellation of Current Arrangement Staff Report; Staff Supplement; Press Release on the Executive Board Discussion
Series: Country Report No. 10/262
July 29, 2010 -- Transcript of Teleconference Call on Ukraine with Thanos Arvanitis, Mission Chief for Ukraine, and Max Alier, Resident Representative in Kiev

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