IMF points out weak economic growth in Ukraine
The International Monetary Fund (IMF) has pointed out weak economic growth in Ukraine, according to a report of the IMF published along with the text of the request for Stand-By Arrangement (SBA) and cancellation of arrangement under the Extended Fund Facility (EFF) of the Ukrainian government.
"Investment, particularly foreign direct investment, is held back by a difficult business environment, while large numbers of worker seek job opportunities abroad as economic growth is too low for incomes to noticeably close the gap with regional peers," the IMF said in the report.
The Ukrainian authorities have been able to restore macro-economic stability and growth following the severe economic crisis of 2014–2015. However, efforts to create a more dynamic, open, and competitive economy have fallen short of expectations, and the economy still faces important challenges, the IMF said.
As reported, on December 19, 2018, the Executive Board of the IMF approved a new 14-month Stand-By Arrangement (SBA). The new SBA, with a requested access of SDR 2.8 billion (equivalent to $3.9 billion), will provide an anchor for the authorities' economic policies during 2019.