Ukraine : First Review Under the Stand-By Arrangement, Requests for Waivers of Nonobservance of Performance Criteria, and Rephasing of Purchases Under the Arrangement; Staff Report; Staff Supplement; Press Release on the Executive Board Discussion.

Ukraine's economic downturn has been sharper than originally envisaged, mostly reflecting the deterioration of the external environment. The staff report examines Ukraine's first review under the Stand-By Arrangement, requests for Waivers of Nonobservance of Performance Criteria, and Repha...

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Korporativní autor: International Monetary Fund
Médium: Časopis
Jazyk:English
Vydáno: Washington, D.C. : International Monetary Fund, 2009.
Edice:IMF Staff Country Reports; Country Report ; No. 2009/173
On-line přístup:Full text available on IMF
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520 3 |a Ukraine's economic downturn has been sharper than originally envisaged, mostly reflecting the deterioration of the external environment. The staff report examines Ukraine's first review under the Stand-By Arrangement, requests for Waivers of Nonobservance of Performance Criteria, and Rephasing of Purchases Under the Arrangement. A flexible exchange rate policy, supported by base money targets and a transparent intervention strategy, remains a key component of the program. Given balance sheet effects associated with unhedged foreign currency borrowing, the central bank stands ready to take action to avoid excessive exchange rate depreciation. 
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