Cover IMF Staff Country Reports
Ukraine: Ex Post Evaluation of Exceptional Access Under the 2010 Stand-By Arrangement
Author: International Monetary Fund. European Dept.
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2014: Issue 146
Language:
English
Publication Date:
11 Jun 2014
DOI:
https://doi.org/10.5089/9781498320320.002
ISBN:
9781498320320
ISSN:
1934-7685
Pages:
44
Keywords:
ISCR; CR; deficit; deficit monetization; government; IMF staff estimate; increase exchange rate flexibility; post evaluation report; deficit target; monetary policy; banking system; Tariffs; Government debt management; Pension reform; Tax refunds; Global; Europe
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This paper discusses Ukraine’s Ex Post Evaluation of Exceptional Access Under the 2010 Stand-By Arrangement. For the most part, the 2010 program was appropriately designed given the ambitious agenda it had set out to accomplish. The macroeconomic strategy and program design correctly addressed the most important vulnerabilities—Ukraine’s large fiscal and quasi-fiscal deficits, its lack of resilience to external shocks, and lingering weaknesses in the financial sector. Although the program’s long duration was appropriate given its focus on medium-term issues, hindsight would suggest that a shorter program would have been preferable given the country’s past program performance.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund