TohidA/MONA · Datasets at Hugging Face

810

UGANDA

746

ECF

2021-06-28

2,021

2024-06-14

2,024

2024-06-01

N/A

2023-06-21

P1

R4

L

SB

30.4

11.4. Anti-corruption legislation/policy

Publish on the MOFPED website decisions arising from investigations that led to sanctions for the period starting from FY 2020/21 onwards, with clear personal penalties for officers responsible for unauthorized spending commitments, and actions taken to enforce compliance.

4

06/30/2023

M

Report on sanctions was posted to the MOFPED website.

4

2023-06-30

R2R3

R4

SB_30.40_4

N/A

810

UGANDA

746

ECF

2021-06-28

2,021

2024-06-14

2,024

2024-06-01

N/A

2023-06-21

P1

R4

L

SB

30.4

11.4. Anti-corruption legislation/policy

In consultation with Fund staff, Directorate for Ethics and Integrity to publish, in relation to the strategic objectives of the National Anti-Corruption Strategy (NACS) 2019-2024, (i) an assessment report against the agreed indicators and targets, and (ii) the annual report for fiscal year 2022/23 on the prevalence of corruption and anti-corruption efforts, as guided by the NACS’ monitoring and evaluation framework.

5

11/30/2023

SB

MOFPED provided resources and work has begun.

4

5

2023-11-30

R2R3

N/A

SB_30.40_5

N/A

546

UKRAINE

926

SBA

2004-03-29

2,004

2005-03-28

2,005

N/A

2004-03-29

P1

R0

EL

PA

20.1

1.1. Revenue measures, excluding trade policy

Suspension of VAT exemptions and zero-ratings extended to newly-built housing construction, aircraft production, and shipbuilding

1

Program Prior Action

M

N/A

0

1

2023-09-23

N/A

546

UKRAINE

926

SBA

2004-03-29

2,004

2005-03-28

2,005

N/A

2004-03-29

P1

R0

EL

PA

20.1

1.1. Revenue measures, excluding trade policy

A reduction in the stock of VAT refund arrears by at least Hrv 500 million between end-2002 and end-2003

2

Program Prior Action

M

N/A

0

2

2023-09-23

N/A

546

UKRAINE

926

SBA

2004-03-29

2,004

2005-03-28

2,005

N/A

2004-03-29

P1

R0

EL

PA

20.1

1.1. Revenue measures, excluding trade policy

Enactment of a 2004 budget law that provides for the clearance of the entire stock of VAT refund arrears, on market terms

3

Program Prior Action

M

N/A

0

3

2023-09-23

N/A

546

UKRAINE

926

SBA

2004-03-29

2,004

2005-03-28

2,005

N/A

2004-03-29

P1

R0

EL

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Adoption of a NBU decree to increase in the minimum risk-weighted capital adequacy ratio from 8 percent to 10 percent, effective March 1, 2004

1

Program Prior Action

M

Recommendation from FSAP mission

0

1

2023-09-23

N/A

546

UKRAINE

926

SBA

2004-03-29

2,004

2005-03-28

2,005

N/A

2004-03-29

P1

R0

EL

PA

28

9. Labor markets, excluding public sector employment

Parliamentary approval to postpone the minimum wage increase planned for July 2003

1

Program Prior Action

M

N/A

0

1

2023-09-23

N/A

546

UKRAINE

926

SBA

2004-03-29

2,004

2005-03-28

2,005

N/A

2004-03-29

P1

R0

EL

SB

20.1

1.1. Revenue measures, excluding trade policy

Reducing the total fiscal cost of the remaining VAT preferences (including agriculture) effective in 2005 to at most Hrv 2.9 billion, based on the 2003 estimates in the 2004 tax expenditure budget

1

01/31/2005

SB

N/A

0

1

2005-01-31

N/A

546

UKRAINE

926

SBA

2004-03-29

2,004

2005-03-28

2,005

N/A

2004-03-29

P1

R0

EL

SB

20.5

1.5. Debt Management

Steps to develop the domestic securities market, including by (a) enhancing the marketability of restructured treasury bills held by the NBU and (b) further developing and implementing debt management guidelines that promote the development of the government securities market

1

06/30/2004

SB

N/A

0

1

2004-06-30

N/A

546

UKRAINE

926

SBA

2004-03-29

2,004

2005-03-28

2,005

N/A

2004-03-29

P1

R0

EL

SB

20.8

1.8. Budget preparation (e.g., submission or approval)

Adoption of a monitoring system of quasi-fiscal operations in the electricity, gas, and coal sectors, and including the analysis for information purposes in the context of the budgetary submission for 2005

1

10/31/2004

SB

N/A

0

1

2004-10-31

N/A

546

UKRAINE

926

SBA

2004-03-29

2,004

2005-03-28

2,005

N/A

2004-03-29

P1

R0

EL

SPC

20.1

1.1. Revenue measures, excluding trade policy

Enactment of changes to the VAT law that eliminate sectoral VAT preferences, effective no later than January 2005, reducing the total fiscal cost of remaining VAT preferences (excluding agriculture) to at most Hrv 3.2 billion, based on the 2003 estimates in the 2004 tax expenditure budget

1

08/15/2004

PC

N/A

0

1

2004-08-15

N/A

546

UKRAINE

926

SBA

2004-03-29

2,004

2005-03-28

2,005

N/A

2004-03-29

P1

R0

EL

SPC

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Submission to parliament by the NBU and enactment of amendments to the Law on Banks and Banking, and revisions of NBU resolutions, to strengthen the provisions on related-party lending, in particular by (a) requiring identification of ultimate bank owners; (b) eliminating exceptions that permit more favorable terms than market terms for related-party lending; (c) prohibiting concerned parties involvement in the credit analysis; and (d) requiring regular disclosure of related-party lending in the banks annual reports

1

08/15/2004

PC

N/A

0

1

2004-08-15

N/A

546

UKRAINE

926

SBA

2004-03-29

2,004

2005-03-28

2,005

N/A

2004-03-29

P1

R0

EL

SPC

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Amending NBU resolutions that eliminate exceptions that permit more favorable terms than market terms for related-party lending

2

04/30/2004

PC

N/A

0

2

2004-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue a Law or a Decree laying out the terms of financial support to banks.

1

Program Prior Action

M

N/A

0

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Make the necessary legal amendments authorizing the National Bank of Ukraine to undertake the necessary bank resolution process, including (i) purchase and assumption, (ii) sales of part or whole bank, and (iii) reduction in the value of the existing shareholders' equity and voting rights to absorb the losses incurred in the resolution process.

2

Program Prior Action

M

N/A

0

2

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

PA

25.2

6.2. Restructuring and privatization of financial institutions

Finalize the resolution of the Prominvest Bank.

1

Program Prior Action

M

N/A

0

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

PA

26

7. Exchange systems and restrictions (current and capital)

Implement a flexible exchange rate regime. National Bank of Ukraine Council to take and publicize a decision to abolish the exchange rate band, and NBU Board to define the official rate as the preceding day's market exchange rate (with intra-day adjustments if necessary to keep it within 2 percent of the market rate).

1

Program Prior Action

M

N/A

0

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

SB

20.1

1.1. Revenue measures, excluding trade policy

Cancel the foreign exchange transactions tax.

1

04/30/2009

SB

N/A

0

1

2009-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

SB

21.1

2.1. Central bank operations and reforms

Strengthen National Bank of Ukraine independence: reform the NBU council, transforming it into a narrower technical body in line with best practice; prolong the term of the governor; and provide more financial flexibility to the NBU (securitize government debt to the NBU, centralize all liquidity operations in the NBU, and bring profit transfer arrangements into line with best international practice).

1

06/30/2009

SB

N/A

0

1

2009-06-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

SB

21.1

2.1. Central bank operations and reforms

National Bank of Ukraine (NBU) to adopt framework for publication, on monthly and quarterly basis, of detailed bank-by-bank financial information in line with international best practices, to include among other items, detailed balance sheets and income statements, information on bank capitalization and asset quality, with separate information for domestic and foreign currency assets and liabilities.

2

01/31/2009

SB

N/A

0

2

2009-01-31

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Pass a 2009 Budget consistent with our general government deficit target of a zero overall balance. Consistency will be monitored through the target for the state budget deficit and the budgets for the social funds.

1

04/30/2009

PC

N/A

0

1

2009-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

SPC

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Complete a diagnostic study by December 15, 2008 covering National Bank of Ukraine's (NBU) group 1 banks, coordinated by NBU and with participation of several reputable audit firms.

1

12/15/2008

PC

N/A

0

1

2008-12-15

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

SPC

25.2

6.2. Restructuring and privatization of financial institutions

Resolve all problem banks by end June 2009, so that viable banks meet the regulatory minimum capital and nonviable banks are liquidated.

1

06/30/2009

PC

N/A

0

1

2009-06-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the introduction or modification of multiple currency practices.

1

Continuous

PC

N/A

0

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the imposition of restrictions on the making of payments and transfers for current international transactions.

2

Continuous

PC

N/A

0

2

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the conclusion of bilateral payments agreements that are inconsistent with Article VIII.

3

Continuous

PC

N/A

0

3

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

N/A

2008-11-05

P1

R0

E

SPC

27

8. International trade policy, excluding customs reforms

Prohibition on the imposition or intensification of import restrictions for balance of payments reasons.

1

Continuous

PC

N/A

0

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

PA

20.4

1.4. Combined expenditure and revenue measures

Adopt measures reducing the general government deficit by at least 1 percent of GDP in 2009.

2

First Review Prior action

M

N/A

1

2

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

Revoke Articles 84 and 86 from the 2009 Budget Law.

1

First Review Prior action

M

N/A

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

PA

21.1

2.1. Central bank operations and reforms

Adopt resolutions that specify the conditions for NBU to extend liquidity finance to solvent banks with adequate collateral and conditionality, as well as procedures to ensure that NBU refinancing is not provided to potentially insolvent banks.

1

First Review Prior action

M

N/A

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

PA

21.2

2.2. Central bank auditing, transparency, and financial controls

Announce a tender for a Special Audit of NBU refinancing and foreign exchange operations in 2008, to be executed by a qualified international audit firm, on the basis of a terms of reference agreed with IMF staff.

2

First Review Prior action

M

N/A

1

2

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Enact a joint NBU and Cabinet of Ministers resolution to set out the guiding principles for the resolution strategy, including provision of adequate liquidity support to banks that are recapitalized.

1

First Review Prior action

M

N/A

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Make the necessary legal amendments authorizing the National Bank of Ukraine to undertake the necessary bank resolution process, including (i) purchase and assumption, (ii) sales of part or whole bank, and (iii) reduction in the value of the existing shareholders' equity and voting rights to absorb the losses incurred in the resolution process.

2

Program Prior Action

M

N/A

1

2

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue a Law or a Decree laying out the terms of financial support to banks.

3

Program Prior Action

M

N/A

1

3

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

PA

25.2

6.2. Restructuring and privatization of financial institutions

Finalize the resolution of the Prominvest Bank.

1

Program Prior Action

M

N/A

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

PA

26

7. Exchange systems and restrictions (current and capital)

Implement a flexible exchange rate regime. National Bank of Ukraine Council to take and publicize a decision to abolish the exchange rate band, and NBU Board to define the official rate as the preceding day's market exchange rate (with intra-day adjustments if necessary to keep it within 2 percent of the market rate).

1

Program Prior Action

M

N/A

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

PA

26

7. Exchange systems and restrictions (current and capital)

Publication of a statement by the NBU renewing the commitment to implement a flexible exchange rate regime and a transparent intervention strategy, including via pre-announced regular auctions.

2

First Review Prior action

M

N/A

1

2

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

PA

26

7. Exchange systems and restrictions (current and capital)

Adopt and implement a resolution specifying that the official exchange rate will be set, on a daily basis, as the average transaction-weighted rate of the previous day (with intra-day adjustments if necessary to keep it within 2 percent of the market rate).

3

First Review Prior action

M

N/A

1

3

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Cancel the foreign exchange transactions tax.

1

04/30/2009

MOD-DATE

N/A

1

2009-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Cancel the foreign exchange transactions tax.

1

09/30/2009

SB

N/A

1

2009-09-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SB

21.1

2.1. Central bank operations and reforms

National Bank of Ukraine (NBU) to adopt framework for publication, on monthly and quarterly basis, of detailed bank-by-bank financial information in line with international best practices, to include among other items, detailed balance sheets and income statements, information on bank capitalization and asset quality, with separate information for domestic and foreign currency assets and liabilities.

1

01/31/2009

MOD-SB

At P1R1, test date modified to 9/30/2009; text is also modified.

1

2009-01-31

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SB

21.1

2.1. Central bank operations and reforms

Strengthen National Bank of Ukraine independence: reform the NBU council, transforming it into a narrower technical body in line with best practice; prolong the term of the governor; and provide more financial flexibility to the NBU (securitize government debt to the NBU, centralize all liquidity operations in the NBU, and bring profit transfer arrangements into line with best international practice).

2

06/30/2009

MOD-SB

At P1R1, test date is modified to 5/31/2009; text is also modified.

1

2

2009-06-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SB

21.1

2.1. Central bank operations and reforms

Conclude the independent review, by a specialized audit team from an international accounting firm, of NBU's refinancing and currency interventions in 2008, and share a report with the IMF staff.

3

06/15/2009

SB

N/A

1

3

2009-06-15

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SB

21.1

2.1. Central bank operations and reforms

Ensure de jure and de facto independence of the NBU. Enact legislation to strengthen the overall governance structure of the NBU; in particular, reform the NBU council, transforming it into a narrower technical body and revise the NBU Law as needed to address all safeguards-related weaknesses, as noted by the recent safeguards assessment.

4

05/31/2009

SB

At P1R1, this benchmark and test date modify the benchmark "Strengthen National Bank of Ukraine independence."

1

4

2009-05-31

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Enact necessary amendments to legislation to include definition and disclosure of ultimate controllers of banks.

1

05/31/2009

SB

N/A

1

2009-05-31

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Enact necessary amendments to legislation to enable revaluation of shareholder capital, transfer of assets and liabilities without prior approval of creditors, simplifying and accelerating the process for bank mergers and acquisitions, and enabling the government to provide funds for banks under resolution by the NBU.

2

05/31/2009

SB

N/A

1

2

2009-05-31

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Enact necessary amendments to legislation to implement consolidated supervision and provide for supplementary supervision of financial conglomerates.

3

05/31/2010

SB

N/A

1

3

2010-05-31

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Start publishing detailed information on banks, in particular detailed balance sheets and income statements, information on bank capitalization, ownership and asset quality, with separate information for domestic and foreign currency assets and liabilities.

4

09/30/2009

SB

At P1R1, this benchmark and test date modify the structural benchmark on "National Bank of Ukraine (NBU) to adopt framework for publication."

1

4

2009-09-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Amend the Law of Ukraine "On restoring solvency of a debtor or announcing him/her a bankrupt" and related laws to facilitate voluntary out-of-court rehabilitation and by reducing the scope for excessive appeals.

1

09/30/2009

SB

N/A

1

2009-09-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Pass a 2009 Budget consistent with our general government deficit target of a zero overall balance. Consistency will be monitored through the target for the state budget deficit and the budgets for the social funds.

1

04/30/2009

W

At R1, source of status information: Press Release No. 09/156.

1

2009-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SPC

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Complete a diagnostic study by December 15, 2008 covering National Bank of Ukraine's (NBU) group 1 banks, coordinated by NBU and with participation of several reputable audit firms.

1

12/15/2008

M

N/A

1

2008-12-15

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SPC

25.2

6.2. Restructuring and privatization of financial institutions

Resolve all problem banks by end June 2009, so that viable banks meet the regulatory minimum capital and nonviable banks are liquidated.

1

06/30/2009

MOD-PA

At the time of R1, this p.c. will be specified as a prior action for completion of the second review (R2).

1

2009-06-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the introduction or modification of multiple currency practices.

1

04/30/2009

W

At R1, source of status information: Press Release No. 09/156.

1

2009-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the introduction or modification of multiple currency practices.

1

Continuous

PC

N/A

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the imposition of restrictions on the making of payments and transfers for current international transactions.

2

04/30/2009

W

At R1, source of status information: Press Release No. 09/156.

1

2

2009-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the imposition of restrictions on the making of payments and transfers for current international transactions.

2

Continuous

PC

N/A

1

2

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the conclusion of bilateral payments agreements that are inconsistent with Article VIII.

3

04/30/2009

M

N/A

1

3

2009-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the conclusion of bilateral payments agreements that are inconsistent with Article VIII.

3

Continuous

PC

N/A

1

3

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SPC

27

8. International trade policy, excluding customs reforms

Prohibition on the imposition or intensification of import restrictions for balance of payments reasons.

1

04/30/2009

W

At R1, source of status information: Press Release No. 09/156.

1

2009-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-10-15

N/A

2009-05-08

P1

R1

BLANK

SPC

27

8. International trade policy, excluding customs reforms

Prohibition on the imposition or intensification of import restrictions for balance of payments reasons.

1

Continuous

PC

N/A

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

20.4

1.4. Combined expenditure and revenue measures

Adopt measures reducing the general government deficit by at least 1 percent of GDP in 2009.

2

First Review Prior action

M

N/A

2

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

Revoke Articles 84 and 86 from the 2009 Budget Law.

1

First Review Prior action

M

N/A

2

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

21.1

2.1. Central bank operations and reforms

Adopt resolutions that specify the conditions for NBU to extend liquidity finance to solvent banks with adequate collateral and conditionality, as well as procedures to ensure that NBU refinancing is not provided to potentially insolvent banks.

1

First Review Prior action

M

N/A

2

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

21.2

2.2. Central bank auditing, transparency, and financial controls

Announce a tender for a Special Audit of NBU refinancing and foreign exchange operations in 2008, to be executed by a qualified international audit firm, on the basis of a terms of reference agreed with IMF staff.

2

First Review Prior action

M

N/A

2

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

24.1

5.1. Public enterprise pricing and subsidies

Announce an increase in the price of natural gas paid by households (effective September 1) and utility companies (effective October 1) by 20 percent to bring these tariffs at 31 and 43 percent of import prices, respectively, and announce a schedule of 20 percent quarterly price increases for households and utility companies starting in January 2010. Introduce mechanisms to enforce payment discipline of utility companies and households.

1

Second Review Prior action

M

N/A

2

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

To improve transparency of Naftogaz: approve a revised 2009 financial plan and develop a 2010 projected financial plan for Naftogaz, based on credible financing assumptions, and commission an independent review, by an international audit firm, to put in place a monitoring frameword for the cash result of the company and to establish regular (monthly) and timely public reporting of key financial data.

1

Second Review Prior action

M

N/A

2

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Enact a joint NBU and Cabinet of Ministers resolution to set out the guiding principles for the resolution strategy, including provision of adequate liquidity support to banks that are recapitalized.

1

First Review Prior action

M

N/A

2

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Make the necessary legal amendments authorizing the National Bank of Ukraine to undertake the necessary bank resolution process, including (i) purchase and assumption, (ii) sales of part or whole bank, and (iii) reduction in the value of the existing shareholders' equity and voting rights to absorb the losses incurred in the resolution process.

2

Program Prior Action

M

N/A

2

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue a Law or a Decree laying out the terms of financial support to banks.

3

Program Prior Action

M

N/A

2

3

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Amend legislation to enable effective bank resolution. The amendments should include revaluation of shareholder capital, transfer of assets and liabilities without prior approval of creditors, simplifying and accelerating the process for bank mergers and acquisitions, enabling the government to provide funds for banks under resolution by the NBU, and definition and disclosure of ultimate controllers of banks.

4

Second Review Prior action

M

N/A

2

4

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Finalize the resolution strategy for each of the systemic problem banks and start implementation. In particular, implement the recapitalization for the three banks for which the decision thereto has already been taken, and decide on the expediency of the state involvement in replenishing the capital of the other two banks.

5

Second Review Prior action

M

Previously a SPC at R1 but modified as a PA for R2.

2

5

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

25.2

6.2. Restructuring and privatization of financial institutions

Finalize the resolution of the Prominvest Bank.

1

Program Prior Action

M

N/A

2

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

26

7. Exchange systems and restrictions (current and capital)

Implement a flexible exchange rate regime. National Bank of Ukraine Council to take and publicize a decision to abolish the exchange rate band, and NBU Board to define the official rate as the preceding day's market exchange rate (with intra-day adjustments if necessary to keep it within 2 percent of the market rate).

1

Program Prior Action

M

N/A

2

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

26

7. Exchange systems and restrictions (current and capital)

Publication of a statement by the NBU renewing the commitment to implement a flexible exchange rate regime and a transparent intervention strategy, including via pre-announced regular auctions.

2

First Review Prior action

M

N/A

2

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

26

7. Exchange systems and restrictions (current and capital)

Adopt and implement a resolution specifying that the official exchange rate will be set, on a daily basis, as the average transaction-weighted rate of the previous day (with intra-day adjustments if necessary to keep it within 2 percent of the market rate).

3

First Review Prior action

M

N/A

2

3

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

PA

26

7. Exchange systems and restrictions (current and capital)

Improve the functioning of the foreign exchange market, including by amending NBU regulation 108 to lift the ban on foreign exchange forward and spot transactions.

4

Second Review Prior action

M

N/A

2

4

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Cancel the foreign exchange transactions tax.

1

04/30/2009

MOD-DATE

N/A

2

1

2009-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Eliminate the foreign exchange transactions tax.

2

09/30/2009

SB

N/A

2

2009-09-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

21.1

2.1. Central bank operations and reforms

National Bank of Ukraine (NBU) to adopt framework for publication, on monthly and quarterly basis, of detailed bank-by-bank financial information in line with international best practices, to include among other items, detailed balance sheets and income statements, information on bank capitalization and asset quality, with separate information for domestic and foreign currency assets and liabilities.

1

01/31/2009

MOD-SB

At P1R1, test date modified to 9/30/2009; text is also modified.

2

1

2009-01-31

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

21.1

2.1. Central bank operations and reforms

Strengthen National Bank of Ukraine independence: reform the NBU council, transforming it into a narrower technical body in line with best practice; prolong the term of the governor; and provide more financial flexibility to the NBU (securitize government debt to the NBU, centralize all liquidity operations in the NBU, and bring profit transfer arrangements into line with best international practice).

2

06/30/2009

MOD-SB

At P1R1, test date is modified to 5/31/2009; text is also modified.

2

2009-06-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

21.1

2.1. Central bank operations and reforms

Conclude the independent review, by a specialized audit team from an international accounting firm, of NBU's refinancing and currency interventions in 2008, and share a report with the IMF staff.

3

06/15/2009

M

N/A

2

3

2009-06-15

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

21.1

2.1. Central bank operations and reforms

Ensure de jure and de facto independence of the NBU. Enact legislation to strengthen the overall governance structure of the NBU; in particular, reform the NBU council, transforming it into a narrower technical body and revise the NBU Law as needed to address all safeguards-related weaknesses, as noted by the recent safeguards assessment.

4

05/31/2009

MOD-DATE

At P1R1, this benchmark and test date modify the benchmark "Strengthen National Bank of Ukraine independence." At P1R2, test date modified to 9/30/2009.

2

4

2009-05-31

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

21.1

2.1. Central bank operations and reforms

Ensure de jure and de facto independence of the NBU. Enact legislation to strengthen the overall governance structure of the NBU; in particular, reform the NBU council, transforming it into a narrower technical body and revise the NBU Law as needed to address all safeguards-related weaknesses, as noted by the recent safeguards assessment.

4

09/30/2009

SB

At P1R2, text modified to remove the sentence "Ensure de jure and de facto independence of the NBU."

2

4

2009-09-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

Initiate the implementation of the reform and restructuring strategy for Naftogaz, including a mechanism for transparent financing of gas transit modernization needs, in accordance with the principles of the Brussels declaration.

1

09/30/2009

SB

N/A

2

1

2009-09-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Enact necessary amendments to legislation to include definition and disclosure of ultimate controllers of banks.

1

05/31/2009

M

N/A

2

1

2009-05-31

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Enact necessary amendments to legislation to enable revaluation of shareholder capital, transfer of assets and liabilities without prior approval of creditors, simplifying and accelerating the process for bank mergers and acquisitions, and enabling the government to provide funds for banks under resolution by the NBU.

2

05/31/2009

M

N/A

2

2009-05-31

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Enact necessary amendments to legislation to implement consolidated supervision and provide for supplementary supervision of financial conglomerates.

3

05/31/2010

SB

N/A

2

3

2010-05-31

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Start publishing detailed information on banks, in particular detailed balance sheets and income statements, information on bank capitalization, ownership and asset quality, with separate information for domestic and foreign currency assets and liabilities.

4

09/30/2009

SB

At P1R1, this benchmark and test date modify the structural benchmark on "National Bank of Ukraine (NBU) to adopt framework for publication." At P1R2, this benchmark removed the word "Start."

2

4

2009-09-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Develop a set of measures to strengthen the financial sustainability of State banks.

5

09/30/2009

SB

N/A

2

5

2009-09-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Finalize the resolution strategy for each of the non-systemic problem banks and start implementation.

6

09/30/2009

SB

N/A

2

6

2009-09-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Amend the Law of Ukraine "On restoring solvency of a debtor or announcing him/her a bankrupt" and related laws to facilitate voluntary out-of-court rehabilitation and by reducing the scope for excessive appeals.

1

09/30/2009

SB

N/A

2

1

2009-09-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Pass a 2009 Budget consistent with our general government deficit target of a zero overall balance. Consistency will be monitored through the target for the state budget deficit and the budgets for the social funds.

1

04/30/2009

W

At R1, source of status information: Press Release No. 09/156.

2

1

2009-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SPC

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Complete a diagnostic study by December 15, 2008 covering National Bank of Ukraine's (NBU) group 1 banks, coordinated by NBU and with participation of several reputable audit firms.

1

12/15/2008

M

N/A

2

1

2008-12-15

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SPC

25.2

6.2. Restructuring and privatization of financial institutions

Resolve all problem banks by end June 2009, so that viable banks meet the regulatory minimum capital and nonviable banks are liquidated.

1

06/30/2009

MOD-PA

At the time of R1, this p.c. will be specified as a prior action for completion of the second review (R2).

2

1

2009-06-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the introduction or modification of multiple currency practices.

1

04/30/2009

W

At R1, source of status information: Press Release No. 09/156.

2

1

2009-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the introduction or modification of multiple currency practices.

1

Continuous

PC

N/A

2

1

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the imposition of restrictions on the making of payments and transfers for current international transactions.

2

04/30/2009

W

At R1, source of status information: Press Release No. 09/156.

2

2009-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the imposition of restrictions on the making of payments and transfers for current international transactions.

2

Continuous

PC

N/A

2

2023-09-23

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the conclusion of bilateral payments agreements that are inconsistent with Article VIII.

3

04/30/2009

M

N/A

2

3

2009-04-30

N/A

599

UKRAINE

926

SBA

2008-11-05

2,008

2010-11-04

2,010

2010-07-27

N/A

2009-07-28

P1

R2

L

SPC

26

7. Exchange systems and restrictions (current and capital)

Prohibition on the conclusion of bilateral payments agreements that are inconsistent with Article VIII.

3

Continuous

PC

N/A

2

3

2023-09-23

N/A