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Europe > Ukraine

You are looking at 1 - 6 of 6 items for :

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Cover IMF Staff Country Reports
Seychelles: 2022 Article IV Consultation, Second Review Under the Extended Fund Facility Arrangement, and Request for Modification of Performance Criteria and Indicative Targets-Press Release; Staff Report; and Statement by the Executive Director for Seychelles
International Monetary Fund. African Dept.
This paper presents Seychelles’ 2022 Article IV Consultation, Second Review under the Extended Fund Facility Arrangement, and Request for Modification of Performance Criteria and Indicative Targets. Seychelles’ economic recovery in 2021 vastly outperformed projections, fueled by a faster-than-expected rebound of the tourism sector. The authorities are committed to reducing debt vulnerabilities and creating fiscal space to address future risks. The structural reform agenda will continue to focus on revenue administration, public financial management, and governance, including digitalization, state-owned-enterprise reform, and climate change adaptation and mitigation policies. Monetary policy remains appropriately accommodative, and the authorities are committed to closely monitoring inflationary pressures. The authorities are committed to reducing debt vulnerabilities and creating fiscal space to address future risks. The structural reform agenda will continue to focus on revenue administration, public financial management, and governance, including digitalization, state-owned enterprise reform, and climate change adaptation and mitigation policies. The country remains vulnerable to climate change.
Keywords:
Seychellois authorities; only authority; government finance statistics manual; policy commitment; emergency expenditure; government operation; Policy recommendation; Tourism; Monetary base; Global; Africa
Cover IMF Working Papers
Determinants of Inflation in a Transition Economy: The Case of Ukraine
Mr. Bogdan Lissovolik
This paper examines determinants of inflation in Ukraine during 1993-2002 in a cointegrating framework. Two basic theoretical models-a markup and a money market model-are tested. While broad money is cointegrated with the CPI for the whole sample and for early subsamples, the cointegration ceases to be statistically significant between 1996-2002, in part because of strong remonetization. The mark-up model offers a more consistent and well-fitting overall framework for 1996-2002 data, pointing inter alia to a greater role of administered prices in the CPI within a fairly mainstream inflation process. The "long-term" monetary transmission mechanism operates through the exchange rate and wages, but broad money clearly enters short-term inflation determinants. Prudent macroeconomic policies, grain harvests, and administrative decisions explain the sharp decline of inflation over 2000-2002.
Keywords:
WP; money demand; broad money; output gap; services price; Inflation; transition; Ukraine; cointegration; stabilization effort; inflation inertia term; exante inflation projection; food price deflation; inflation process; inflation equation; inflation development; world inflation; transition inflation study; price determination; single-equation model; Exchange rates; Consumer price indexes; Monetary base; Demand for money; Central and Eastern Europe; Eastern Europe; Asia and Pacific; Baltics
Cover IMF Staff Country Reports
Russian Federation: Staff Report for the 2003 Article IV Consultation
International Monetary Fund
This 2003 Article IV Consultation highlights that the macroeconomic developments in the Russian Federation remained generally strong, with a third consecutive year of considerable GDP growth, fiscal surplus, and large current account surplus. The economy continues to benefit from the earlier reforms and the post-crisis real depreciation of the ruble, as well as strong world energy prices. For a second consecutive year, Russian financial markets were among the best performing in the world, and rating agencies provided a series of upgrades in 2002.
Keywords:
ISCR; CR; price; oil price; surplus; revenue; bond market; CPI inflation; fiscal policy; oil price benchmark; real interest rate; U.S. dollar; macroeconomic objective; Oil prices; Inflation; Fiscal stance; Global
Cover IMF Staff Country Reports
Ukraine: 2002 Article IV Consultation—Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Ukraine
International Monetary Fund
This 2002 Article IV Consultation highlights that the economic situation in Ukraine has continued to improve in 2001. Real GDP growth is estimated to have increased from almost 6 percent in 2000 to 9 percent in 2001, mainly on account of double-digit growth of industrial output and a good grain harvest, resulting from favorable weather conditions and a lessening of government controls in agriculture. Fiscal policy through end-September 2001 was broadly on track, although indicators of revenue were affected by the accumulation of arrears on value-added tax refunds.
Keywords:
ISCR; CR; cash collection rate; rate; inflation outturn; reserve requirements ratio; collection; coalition of party; VAT refund arrears; majority coalition; Arrears; Privatization; Monetary base; Western Europe; Central and Eastern Europe; Central Asia; Europe; Africa
Cover IMF Staff Country Reports
Ukraine: Statistical Appendix
International Monetary Fund
This report provides the details of the IMF's projections and estimates on Ukraine's basic data; gross domestic product; utilization of gross domestic product during 1997–2000 (June); gross investment; output of major agricultural products; population, labor force, and employment; central and local government budgets; summary balance of payments, 1996–99; consolidated budget revenues and expenditures, 1996–June 2000; monetary survey; interest rates, 1997–99; services account, 1995–99; interest rates; accounts of the national bank of Ukraine; summary indicators of money and credit during 1997–99; tax summary; and so on.
Keywords:
ISCR; CR; Ukraine; foreign currency; staff estimate; Chernobyl fund; hryvnia broad money; unit price; stabilization fund; net material product; Currencies; Pension spending; Transportation; Monetary base; Baltics
Cover IMF Working Papers
Aspects of Fiscal Performance in Some Transition Economies Under Fund-Supported Programs
Mr. Willem H. Buiter
Key medium– and longer–term fiscal issues faced by transition economies are reviewed, including government solvency and the sustainability of the fiscal–financial–monetary program. The paper aims to assist the design and implementation of future Fund programs and to contribute to the debate about fiscal policy in transition economies. After presenting a framework for evaluating the sustainability of the fiscal–financial–monetary program of the state, some numerical material is presented on public debt, (quasi–) fiscal deficits and monetary financing. Eight budgetary issues of special relevance to transition economies are considered next. The lessons from this study are summarized in a number of propositions.
Keywords:
WP; central bank; state enterprise; interest rate; present discounted value; real GDP; rate of inflation; public finance; solvency constraint; borrowing program; FSU country; real value; budget identity; capital formation program; open economy; ratio ceiling; Government debt management; Real interest rates; Public sector; Monetary base; Eastern Europe