Ukraine: Recent Economic Developments

This paper reviews economic developments in Ukraine during 1996–99. Output decline continued in 1997 and 1998, especially following the August 1998 crisis in Russia. During this period, Ukraine made substantial progress in reducing inflation, mainly through the implementation of a monetary policy that aimed at keeping the exchange rate broadly stable. However, the fiscal situation remained difficult, despite a sizable adjustment in 1998. Throughout the period, economic policy was influenced by developments in international capital markets.
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Volume/Issue: Volume 1999 Issue 042
Publication date: May 1999
ISBN: 9781451838930
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Topics covered in this book

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Business and Economics , Banks and Banking , Investments and Securities-General , Money and Monetary Policy , Public Finance , ISCR , CR , U , S , dollar , gross domestic product , exchange rate , broad money , foreign exchange , debt service , real GDP , Treasury bills and bonds , Pension spending , Currencies , Budget planning and preparation , Baltics , Asia and Pacific

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Summary

This paper reviews economic developments in Ukraine during 1996–99. Output decline continued in 1997 and 1998, especially following the August 1998 crisis in Russia. During this period, Ukraine made substantial progress in reducing inflation, mainly through the implementation of a monetary policy that aimed at keeping the exchange rate broadly stable. However, the fiscal situation remained difficult, despite a sizable adjustment in 1998. Throughout the period, economic policy was influenced by developments in international capital markets.

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