07569oam 22014414 450 991079119690332120230803221539.01-4843-6658-11-4755-3021-81-4843-6685-9(CKB)2550000001312899(EBL)1701793(SSID)ssj0001305869(PQKBManifestationID)11850839(PQKBTitleCode)TC0001305869(PQKBWorkID)11274225(PQKB)11009109(MiAaPQ)EBC1701793(Au-PeEL)EBL1701793(CaPaEBR)ebr10878957(CaONFJC)MIL616100(OCoLC)881416160(IMF)1UKREE2014001(IMF)1UKREA2014001(EXLCZ)99255000000131289920020129d2014 uf 0engur|n|---|||||txtccrUkraine : Request for A Stand-By ArrangementWashington, D.C. :International Monetary Fund,2014.1 online resource (127 p.)IMF Staff Country ReportsDescription based upon print version of record.1-4843-4037-X 1-306-84849-0 Cover; CONTENTS; CONTEXT; BUILD UP OF IMBALANCES AND VULNERABILITIES BEFORE THE CRISIS; RECENT DEVELOPMENTS AND CHALLENGES; BOXES; 1. Ukraine's Dire Energy Finances; POLICY DISCUSSIONS; A. Program Objectives and Strategy; B. Macroeconomic Framework; C. Monetary and Exchange Rate Policy; 2. Balance Sheet Impact of Currency Depreciation; 3. Exchange Rate and Reserve Adequacy Assessment; D. Financial Sector Policy; E. Fiscal Policy; F. Energy Sector Reforms; 4. Energy Sector Reforms; G. Reforms for Better Governance and Transparency; RISKS TO THE PROGRAM; A. Risks to Macroeconomic Outlook5. Ukraine's Connectedness with RussiaB. Risks to Program Implementation; C. Strategy for Mitigating Program Risks and Uncertainties; PROGRAM MODALITIES AND CAPACITY TO REPAY; A. Access and Phasing; B. Exceptional Access Criteria; C. Capacity to Repay the Fund; D. Program Monitoring and Conditionality; 6. Proposed Stand-By Arrangement; STAFF APPRAISAL; TABLES; 1. Program Scenario-Selected Economic and Social Indicators, 2011-19; 2. Program Scenario-General Government Finances, 2011-19; 3. Program Scenario-Balance of Payments, 2011-194. Program Scenario-Gross External Financing Requirements, 2011-195. Program Scenario-Monetary Accounts, 2011-19; 6. Financial Soundness Indicators for the Banking Sector, 2009-13; 7. Indicators of Fund Credit, 2012-19; FIGURES; 1. Real Sector Indicators, 2009-14; 2. Inflation, Monetary, and Exchange Rate Developments, 2009-14; 3. External Sector Developments, 2008-14; 4. Debt and Rollover of Debt, 2008-13; 5. Financial Sector Indicators, 2009-14; 6. Economic Indicators during Past Emerging Market Currency Crises, 1990-2014; ANNEXES; I. Public Debt Sustainability AnalysisII. External Debt Sustainability AnalysisAPPENDIXES; Letter of Intent; ATTACHMENTS; I. Memorandum of Economic and Financial Policies; II. Technical Memorandum of Understanding; CONTENTS; INTRODUCTION; BACKGROUND; TABLES; 1. Proposed SBA-Access and Phasing; 2. IMF Financial Arrangements and Fund Exposure, 1994-2021; 3. External Debt Structure, 2005-2013; THE NEW STAND-BY ARRANGEMENT-RISKS AND IMPACT ON FUND'S FINANCES; A. Risks to the Fund; FIGURES; 1. Debt Ratios for Recent Exceptional Access Arrangements; 2. Credit Outstanding in the GRA around Peak Borrowing3. Peak Fund Exposure and Debt Service Ratios for Recent Exceptional Access CasesB. Impact on the Fund's Liquidity Position and Risk Exposure; 4. Capacity to Repay Indicators; 4. Exceptional Access Levels and Credit Concentration; 5. Impact on GRA Finances; ASSESSMENTThis paper discusses Ukraine’s Request for a Stand-by Arrangement. Ukraine’s economy had been in recession since mid-2012. Inconsistent macroeconomic policies pursued in 2012–2013 aggravated deep-seated vulnerabilities and eventually generated a balance-of-payment crisis. Key objectives of the authorities’ program are to restore macroeconomic stability, strengthen economic governance and transparency, and lay the foundation for robust and balanced economic growth. To achieve these objectives, the government will implement immediate measures aimed at securing stability, combined with deeper reforms to achieve and sustain external sustainability, ensure financial stability, restore sound public finances, rationalize the energy sector, and improve the business environment.IMF Staff Country Reports; Country Report ;No. 2014/106Fiscal policyUkraineMonetary policyUkraineForeign exchangeUkraineBanks and BankingimfExports and ImportsimfForeign ExchangeimfMoney and Monetary PolicyimfPublic FinanceimfTaxationimfInternational Lending and Debt ProblemsimfDebtimfDebt ManagementimfSovereign DebtimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfTrade PolicyimfInternational Trade OrganizationsimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfInternational economicsimfPublic finance & taxationimfCurrencyimfForeign exchangeimfBankingimfMacroeconomicsimfMonetary economicsimfExternal debtimfPublic debtimfDebt serviceimfExchange ratesimfDebts, PublicimfDebts, ExternalimfBanks and bankingimfTariffimfUkraineimfFiscal policyMonetary policyForeign exchangeBanks and BankingExports and ImportsForeign ExchangeMoney and Monetary PolicyPublic FinanceTaxationInternational Lending and Debt ProblemsDebtDebt ManagementSovereign DebtBanksDepository InstitutionsMicro Finance InstitutionsMortgagesTrade PolicyInternational Trade OrganizationsMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralInternational economicsPublic finance & taxationCurrencyForeign exchangeBankingMacroeconomicsMonetary economicsExternal debtPublic debtDebt serviceExchange ratesDebts, PublicDebts, ExternalBanks and bankingTariff338.9477International Monetary Fund.DcWaIMFBOOK9910791196903321Ukraine1324581UNINA