Project profile — Canada-International Monetary Fund Technical Assistance - Ukraine



Overview 

CA-3-D000713001
$20,000,000
IMF – International Monetary Fund
2014-03-25 - 2021-03-31
Operational
Global Affairs Canada
MFM Global Issues & Dev.Branch

Country / region 

• Ukraine (100.00%)

Sector 

• Public sector policy and administrative management:
Public sector policy and administrative management (15110) (20.00%)
Public finance management (15111) (20.00%)
Anti-corruption organisations and institutions (15113) (25.00%)
Domestic Revenue Mobilisation (15114) (10.00%)
• Other Social Infrastructure And Services: Statistical capacity building (16062) (25.00%)

Policy marker 

• Gender equality (not targeted)
• Environmental sustainability (cross-cutting) (not targeted)
• Participatory development and good governance (not targeted)
• Trade development (not targeted)
• Biodiversity (not targeted)
• Climate change mitigation (not targeted)
• Climate Change Adaptation (not targeted)
• Urban issues (not targeted)
• Desertification (not targeted)
• Children's issues (not targeted)
• Youth Issues (not targeted)
• Indigenous Issues (not targeted)
• Disability (not targeted)
• ICT as a tool for development (not targeted)

Description 

The project aims to provide expert guidance and advisory support to the Government of Ukraine to help the country improve its macro-economic stability and manage its economic transition. The International Monetary Fund delivers this technical assistance in areas such as monetary policy, public expenditure management, debt management, balance of payments systems, financial sector supervision, and anti-money laundering reforms. It also supports the design and implementation of sound macroeconomic and financial sector policies, which are essential to stabilize and rebuild Ukraine’s economy. Project activities include: conducting diagnostic studies, offering training courses and workshops, providing on-line advice and support, and providing on-site help from technical assistance experts and advisors.

Expected results 

The expected intermediate outcomes for this project include: (1) improved macro-economic stability and management of public finances in Ukraine; and (2) strengthened financial sector supervision and regulation.

Results achieved 

Results achieved by the International Monetary Fund with the support of the Government of Canada as of April 30, 2017 2017 include: (1) preparation of a medium-term budget Declaration that was presented to the Ukraine government for the 2018-2020 period. The Declaration includes medium-term aggregate expenditure ceilings for the first time and indicative spending unit ceilings to support more effective resource allocation to meet government priorities; (2) the National Bank of Ukraine completed diagnostics of the next top-40 banks (after having previously completed the first top 20). 98% of total sector assets had gone through the diagnostic exercise, capital shortfalls identified, and plans to eliminate the shortfalls agreed, thereby laying a sound foundation for the development of a well-capitalized and liquid banking sector; (3) a major restructuring of Ukraine’s banking sector which resulted in decreasing the size of the sector from about 120 banks to 60 banks and the nationalization of the country’s largest lender; and (4) draft amendments to the current Ukrainian corporative insolvency law have been completed (these changes significantly improve the current legal framework for insolvency) and were included in a draft bill that was submitted to the Ukrainian Parliament in October 2016 and approved by the Economic Policy Committee of Parliament in November 2016.

Budget and spending 


Original budget $0
Planned disbursement $0
Transactions
Country percentages by sector
Type of finance Aid grant excluding debt reorganisation
Collaboration type Bilateral
Type of aid Contributions to specific-purpose programmes and funds managed by implementing partners
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