Ukraine

EXECUTIVE SUMMARYStand-By Arrangement. In the attached letter, the Ukrainian authorities describe their economic and financial policies for which they request a 24-month SDR 10.976 billion (800 percent of quota, about US17.1 billion) Stand-By Arrangement involving exceptional access. An initial purchase of SDR 2.058 billion will become available on approval, with SDR 1.290 billion being allocated to budget support. The second and third purchases will be based on bi-monthly reviews and performance criteria, and the remainder will be subject to quarterly reviews.Policies. Key objectives of the a

This paper discusses Ukraineâ??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 vulnerabilitiesâ??Ukraineâ??s large fiscal and quasi-fiscal deficits, its lack of resilience to external shocks, and lingering weaknesses in the financial sector. Although the programâ??s long duration was appropriate given its focus on medium-term issues, hindsight would suggest tha