LEADER 07569oam 22014414 450 001 9910791196903321 005 20230803221539.0 010 $a1-4843-6658-1 010 $a1-4755-3021-8 010 $a1-4843-6685-9 035 $a(CKB)2550000001312899 035 $a(EBL)1701793 035 $a(SSID)ssj0001305869 035 $a(PQKBManifestationID)11850839 035 $a(PQKBTitleCode)TC0001305869 035 $a(PQKBWorkID)11274225 035 $a(PQKB)11009109 035 $a(MiAaPQ)EBC1701793 035 $a(Au-PeEL)EBL1701793 035 $a(CaPaEBR)ebr10878957 035 $a(CaONFJC)MIL616100 035 $a(OCoLC)881416160 035 $a(IMF)1UKREE2014001 035 $a(IMF)1UKREA2014001 035 $a(EXLCZ)992550000001312899 100 $a20020129d2014 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aUkraine : $eRequest for A Stand-By Arrangement 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2014. 215 $a1 online resource (127 p.) 225 1 $aIMF Staff Country Reports 300 $aDescription based upon print version of record. 311 $a1-4843-4037-X 311 $a1-306-84849-0 327 $aCover; 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 Outlook 327 $a5. 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, 2011-19 327 $a4. 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 Analysis 327 $aII. 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 Borrowing 327 $a3. 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; ASSESSMENT 330 3 $aThis paper discusses Ukraine?s Request for a Stand-by Arrangement. Ukraine?s economy had been in recession since mid-2012. Inconsistent macroeconomic policies pursued in 2012?2013 aggravated deep-seated vulnerabilities and eventually generated a balance-of-payment crisis. Key objectives of the authorities? program are to restore macroeconomic stability, strengthen economic governance and transparency, and lay the foundation for robust and balanced economic growth. To achieve these objectives, the government will implement immediate measures aimed at securing stability, combined with deeper reforms to achieve and sustain external sustainability, ensure financial stability, restore sound public finances, rationalize the energy sector, and improve the business environment. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2014/106 606 $aFiscal policy$zUkraine 606 $aMonetary policy$zUkraine 606 $aForeign exchange$zUkraine 606 $aBanks and Banking$2imf 606 $aExports and Imports$2imf 606 $aForeign Exchange$2imf 606 $aMoney and Monetary Policy$2imf 606 $aPublic Finance$2imf 606 $aTaxation$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aTrade Policy$2imf 606 $aInternational Trade Organizations$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aInternational economics$2imf 606 $aPublic finance & taxation$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aBanking$2imf 606 $aMacroeconomics$2imf 606 $aMonetary economics$2imf 606 $aExternal debt$2imf 606 $aPublic debt$2imf 606 $aDebt service$2imf 606 $aExchange rates$2imf 606 $aDebts, Public$2imf 606 $aDebts, External$2imf 606 $aBanks and banking$2imf 606 $aTariff$2imf 607 $aUkraine$2imf 615 0$aFiscal policy 615 0$aMonetary policy 615 0$aForeign exchange 615 7$aBanks and Banking 615 7$aExports and Imports 615 7$aForeign Exchange 615 7$aMoney and Monetary Policy 615 7$aPublic Finance 615 7$aTaxation 615 7$aInternational Lending and Debt Problems 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aTrade Policy 615 7$aInternational Trade Organizations 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aInternational economics 615 7$aPublic finance & taxation 615 7$aCurrency 615 7$aForeign exchange 615 7$aBanking 615 7$aMacroeconomics 615 7$aMonetary economics 615 7$aExternal debt 615 7$aPublic debt 615 7$aDebt service 615 7$aExchange rates 615 7$aDebts, Public 615 7$aDebts, External 615 7$aBanks and banking 615 7$aTariff 676 $a338.9477 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910791196903321 996 $aUkraine$91324581 997 $aUNINA