This paper discusses the status of Ukraine's Eurobond held by the Russian Federation. The bond was acquired by Russia's National Wealth Fund (NWF) pursuant to a decision by the Russian Government to provide assistance to Ukraine. In public statements at the time the bond was issued, Russia's...

This Selected Issues paper focuses on policies to address climate change in Ukraine. The war has been a setback to continued progress on Ukraine's climate objectives. Over the longer term, Ukraine has potential to implement policies that internalize climate-related priorities as well as...

This paper presents Ukraine's 2023 Article IV Consultation, Second Review under the Extended Arrangement under the Extended Fund Facility (EFF), and Requests for Modification of Performance Criteria and a Waiver of Nonobservance of Performance Criterion. The authorities have made strong progress...

This paper focuses on Ukraine's First Review under the Extended Arrangement under the Extended Fund Facility (EFF). The authorities have made strong progress toward their commitments under the EFF under challenging conditions, meeting all applicable quantitative performance criteria through...

This paper presents Ukraine's Request for an Extended Arrangement under the Extended Fund Facility (EFF) and Review of Program Monitoring with Board Involvement. Ukraine's EFF-supported program aims to anchor policies that sustain fiscal, external, price and financial stability and support...

Two years of Russia's war in Ukraine have taken an enormous humanitarian and economic toll. Skillful policymaking supported by external financing has helped maintain macroeconomic stability, and the authorities have advanced important structural reforms. Households and business have continued...

EXECUTIVE SUMMARY Stand-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 US$17.1 billion) Stand-By Arrangement involving exceptional access. An...

KEY ISSUES Context: Weak external demand and inconsistent macroeconomic policies have contributed to a prolonged economic recession. A combination of an effectively pegged exchange rate, loose fiscal policy, and sizable quasi-fiscal losses in the energy sector has pushed the fiscal and external...

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...

Russia’s war in Ukraine continues to have a devastating economic and social impact. Skillful policymaking supported by external financing has helped maintain macroeconomic and financial stability despite challenging circumstances, and the authorities continue to advance important structural...