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Ukraine's Trade Policy identifies the key drivers of Ukraine's recent trade performance, assesses current trade policies, and proposes recommendations to strengthen the Ukraine's trade integration strategy. It also identifies core bottlenecks in the ongoing integration processes, including global and regional integration. The study concludes that the main obstacles to furthering Ukraine's trade integration are domestic, and relate to deficiencies in the business environment. Problems in customs administration, standardization, and administrative barriers for new entry require immediate attention

Foreign trade policy --- Ukraine --- Commercial policy. --- Commerce. --- Economics. --- Economic theory --- Political economy --- Social sciences --- Economic man --- Ukrainian S.S.R. --- Ucrania --- Ukrainskai︠a︡ Sovetskai︠a︡ Sot︠s︡ialisticheskai︠a︡ Respublika --- Ukrainskaya Sovetskaya Sotsialisticheskaya Respublika --- Ukrainian Soviet Socialist Republic --- Uḳraʼinah --- Malorosii︠a︡ --- Małorosja --- Ukraïna --- Petite-Russie --- Oekraïne --- Ukrainska Radyanska Sotsialistychna Respublika --- Ukrainian Socialist Soviet Republic --- Ukrainska Sotsialistychna Radianska Respublika --- Ukraïnsʹka Radi︠a︡nsʹka Sot︠s︡ialistychna Respublika --- Oukraïne --- Ukrayina --- Ukrayna --- U.S.R.R. --- Ucraina --- Ukraïnsʹka Sot︠s︡ii︠a︡listychna Radi︠a︡nsʹka Respublika --- Ukrainian Council Socialist Republic --- ウクライナ --- Ukuraina --- Україна --- Украинэ --- Ucrægna --- Украина --- أوكرانيا --- Ūkrāniyā --- Ucrayena --- Ukyáña --- Ukranya --- Ukrajina --- Yr Wcráin --- Wcráin --- Ουκρανία --- Oykrania --- Ukrainio --- Ukrainujo --- Ukrayiina --- An Úcráin --- Úcráin --- Yn Ookraan --- Ookraan --- Украинмудин Орн --- Ukrainmudin Orn --- 우크라이나 --- ʻUkelena --- Yukrain --- Украинæ --- Ukrainæ --- IYukreyini --- I-Yukreyini --- אוקראינה --- אוקראינע --- Ukraine (Hetmanate : 1648-1782)

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Intergovernmental fiscal relations --- Decentralization in government --- Centralization in government --- Devolution in government --- Government centralization --- Government decentralization --- Government devolution --- Political science --- Central-local government relations --- Federal government --- Local government --- Public administration --- Federal-state fiscal relations --- Fiscal relations, Intergovernmental --- State-local fiscal relations --- Finance, Public --- Local finance --- Law and legislation --- Europe, Eastern --- Ukraine --- East Europe --- Eastern Europe --- Statistical services --- Statistical services. --- Ukrainian S.S.R. --- Ucrania --- Ukrainskai︠a︡ Sovetskai︠a︡ Sot︠s︡ialisticheskai︠a︡ Respublika --- Ukrainskaya Sovetskaya Sotsialisticheskaya Respublika --- Ukrainian Soviet Socialist Republic --- Uḳraʼinah --- Malorosii︠a︡ --- Małorosja --- Ukraïna --- Petite-Russie --- Oekraïne --- Ukrainska Radyanska Sotsialistychna Respublika --- Ukrainian Socialist Soviet Republic --- Ukrainska Sotsialistychna Radianska Respublika --- Ukraïnsʹka Radi︠a︡nsʹka Sot︠s︡ialistychna Respublika --- Oukraïne --- Ukrayina --- Ukrayna --- U.S.R.R. --- Ucraina --- Ukraïnsʹka Sot︠s︡ii︠a︡listychna Radi︠a︡nsʹka Respublika --- Ukrainian Council Socialist Republic --- ウクライナ --- Ukuraina --- Україна --- Украинэ --- Ucrægna --- Украина --- أوكرانيا --- Ūkrāniyā --- Ucrayena --- Ukyáña --- Ukranya --- Ukrajina --- Yr Wcráin --- Wcráin --- Ουκρανία --- Oykrania --- Ukrainio --- Ukrainujo --- Ukrayiina --- An Úcráin --- Úcráin --- Yn Ookraan --- Ookraan --- Украинмудин Орн --- Ukrainmudin Orn --- 우크라이나 --- ʻUkelena --- Yukrain --- Украинæ --- Ukrainæ --- IYukreyini --- I-Yukreyini --- אוקראינה --- אוקראינע --- Ukraine (Hetmanate : 1648-1782)

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This progress report builds on the results of the inaugural meeting of the OECD-Ukraine Forum on Investment and Enterprise Development, held in Kiev on 21-22 February 2002. It comprises the report prepared by the Ukrainian Government, the OECD assessment, the business perspectives, and presentations by national and international practitioners and experts. A broad set of issues are addressed, ranging from the general economic situation to achievements and difficulties in the fields of taxation, privatisation, financial sector and banking. The report also reflects the discussion on further steps in OECD-Ukraine co-operation, and outlines the activities of other international organisations and bilateral donors in support of the reform process.  The progress report provides a record of the reforms under way and the ongoing debate on the reform process in Ukraine -- a country with strong economic potential but which has yet to be perceived as an attractive destination for foreign direct investment.

Economic policy. --- Investments, Foreign -- Government policy. --- Investments, Foreign. --- Investments, Foreign --- Finance --- Ukraine --- Commercial policy. --- Capital exports --- Capital imports --- FDI (Foreign direct investment) --- Foreign direct investment --- Foreign investment --- Foreign investments --- International investment --- Offshore investments --- Outward investments --- Capital movements --- Investments --- Ukrainian S.S.R. --- Ucrania --- Ukrainskai︠a︡ Sovetskai︠a︡ Sot︠s︡ialisticheskai︠a︡ Respublika --- Ukrainskaya Sovetskaya Sotsialisticheskaya Respublika --- Ukrainian Soviet Socialist Republic --- Uḳraʼinah --- Malorosii︠a︡ --- Małorosja --- Ukraïna --- Petite-Russie --- Oekraïne --- Ukrainska Radyanska Sotsialistychna Respublika --- Ukrainian Socialist Soviet Republic --- Ukrainska Sotsialistychna Radianska Respublika --- Ukraïnsʹka Radi︠a︡nsʹka Sot︠s︡ialistychna Respublika --- Oukraïne --- Ukrayina --- Ukrayna --- U.S.R.R. --- Ucraina --- Ukraïnsʹka Sot︠s︡ii︠a︡listychna Radi︠a︡nsʹka Respublika --- Ukrainian Council Socialist Republic --- ウクライナ --- Ukuraina --- Україна --- Украинэ --- Ucrægna --- Украина --- أوكرانيا --- Ūkrāniyā --- Ucrayena --- Ukyáña --- Ukranya --- Ukrajina --- Yr Wcráin --- Wcráin --- Ουκρανία --- Oykrania --- Ukrainio --- Ukrainujo --- Ukrayiina --- An Úcráin --- Úcráin --- Yn Ookraan --- Ookraan --- Украинмудин Орн --- Ukrainmudin Orn --- 우크라이나 --- ʻUkelena --- Yukrain --- Украинæ --- Ukrainæ --- IYukreyini --- I-Yukreyini --- אוקראינה --- אוקראינע --- Ukraine (Hetmanate : 1648-1782) --- Investissements étrangers --- Finances --- Politique commerciale

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This report looks at how the new Ukrainian government plans to decrease Russian influence over Ukraine's energy sector. President Viktor Yushchenko has declared goals which include the diversification of oil and gas supply sources, the reform of the domestic market, and the creation of a strategic oil stock.

Energy policy-- Ukraine. --- Energy policy --- Ukraine --- Russia (Federation) --- Russian Federation --- Rossiyskaya Federatsiya --- Rossiya (Federation) --- Rossii︠a︡ (Federation) --- Российская Федерация --- Rossiĭskai︠a︡ Federat︠s︡ii︠a︡ --- Російська Федерація --- Rosiĭsʹka Federat︠s︡ii︠a︡ --- Federazione della Russia --- Russische Föderation --- RF --- Federation of Russia --- Urysye Federat︠s︡ie --- Правительство России --- Pravitelʹstvo Rossii --- Правительство Российской Федерации --- Pravitelʹstvo Rossiĭskoĭ Federat︠s︡ii --- Правительство РФ --- Pravitelʹstvo RF --- Rosja (Federation) --- O-lo-ssu (Federation) --- Roshia Renpō --- Federazione russa --- OKhU --- Orosyn Kholboony Uls --- Russian S.F.S.R. --- An Úcráin --- I-Yukreyini --- IYukreyini --- Malorosii︠a︡ --- Małorosja --- Oekraïne --- Ookraan --- Oukraïne --- Oykrania --- Petite-Russie --- U.S.R.R. --- Ucrægna --- Úcráin --- Ucraina --- Ucrania --- Ucrayena --- ʻUkelena --- Ukraïna --- Ukrainæ --- Uḳraʼinah --- Ukrainian Council Socialist Republic --- Ukrainian S.S.R. --- Ukrainian Socialist Soviet Republic --- Ukrainian Soviet Socialist Republic --- Ukrainio --- Ukrainmudin Orn --- Ukraïnsʹka Radi︠a︡nsʹka Sot︠s︡ialistychna Respublika --- Ukrainska Radyanska Sotsialistychna Respublika --- Ukrainska Sotsialistychna Radianska Respublika --- Ukraïnsʹka Sot︠s︡ii︠a︡listychna Radi︠a︡nsʹka Respublika --- Ukrainskai︠a︡ Sovetskai︠a︡ Sot︠s︡ialisticheskai︠a︡ Respublika --- Ukrainskaya Sovetskaya Sotsialisticheskaya Respublika --- Ukrainujo --- Ukrajina --- Ūkrāniyā --- Ukranya --- Ukrayiina --- Ukrayina --- Ukrayna --- Ukuraina --- Ukyáña --- Wcráin --- Yn Ookraan --- Yr Wcráin --- Yukrain --- Ουκρανία --- Украинæ --- Украина --- Украинэ --- Украинмудин Орн --- Україна --- אוקראינע --- אוקראינה --- أوكرانيا --- ウクライナ --- 우크라이나 --- Ukraine (Hetmanate : 1648-1782) --- Foreign relations --- Economic policy --- Politics and government --- E-books --- Eluosi (Federation) --- 俄罗斯 (Federation) --- RF (Russian Federation) --- Россия (Federation)

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EXECUTIVE SUMMARY The first review discussions took place in a context of heightened geopolitical tensions and deepening economic crisis. Intensification of the conflict in the East and escalation of the gas dispute with Gazprom, two of the key risks identified at the time of the program request, have materialized. These developments have affected confidence, balance of payment flows, economic activity, and budget execution. The banking sector has had to cope with larger-than-anticipated deposit outflows, and the exchange rate has depreciated more than expected at the time of the program request. The authorities have implemented policies broadly as agreed, but significant pressures have emerged. All but one performance criteria for end-May were met and all structural benchmarks have been implemented, albeit some with a delay. However, the deterioration in the economic outlook, fiscal and quasi-fiscal pressures, and heightened balance of payment difficulties are putting the initial program targets in jeopardy. Two end-July PCs are estimated to have been missed; and the end-2014 targets are out of reach. All continuous PCs were met. Discussions focused on the appropriate policy response to these short-term pressures and on reforms to support sustained growth. There was agreement that the policy effort should focus on compensatory measures to meet key program objectives, while allowing some temporary deviations from the initial targets. In particular, the NBU will limit the decline in reserves through market purchases; the government will take additional fiscal measures to keep public finances sustainable; and Naftogaz will strengthen current and past gas bills collection. Discussions also focused on reforms aimed at modernizing the monetary policy framework, preserving financial stability, addressing governance issues and improving the business climate. Nonetheless, risks loom large. The program hinges crucially on the assumption that the conflict will begin to subside in the coming months. Should active fighting continue well beyond that, the small buffers under the revised baseline would be quickly exhausted, requiring a new strategy, including additional external financing. A further heightening of geopolitical tensions could also have significant economic consequences. Domestically, policymaking may become more difficult in case of early elections. Strong policy performance and adherence to the planned reforms is therefore critical. Staff supports the authorities’ request for completion of the first review and the waivers for nonobservance and applicability of performance criteria. The purchase released upon completion of the review would be in the amount of SDR 0.914 billion, of which SDR 0.650 billion will be used to finance the budget deficit.

Financial crises --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- International Monetary Fund --- Internationaal monetair fonds --- International monetary fund --- Fiscal policy --- Monetary policy --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Tax policy --- Taxation --- Finance, Public --- Government policy --- Ukraine --- An Úcráin --- I-Yukreyini --- IYukreyini --- Malorosii︠a︡ --- Małorosja --- Oekraïne --- Ookraan --- Oukraïne --- Oykrania --- Petite-Russie --- U.S.R.R. --- Ucrægna --- Úcráin --- Ucraina --- Ucrania --- Ucrayena --- ʻUkelena --- Ukraïna --- Ukrainæ --- Uḳraʼinah --- Ukrainian Council Socialist Republic --- Ukrainian S.S.R. --- Ukrainian Socialist Soviet Republic --- Ukrainian Soviet Socialist Republic --- Ukrainio --- Ukrainmudin Orn --- Ukraïnsʹka Radi︠a︡nsʹka Sot︠s︡ialistychna Respublika --- Ukrainska Radyanska Sotsialistychna Respublika --- Ukrainska Sotsialistychna Radianska Respublika --- Ukraïnsʹka Sot︠s︡ii︠a︡listychna Radi︠a︡nsʹka Respublika --- Ukrainskai︠a︡ Sovetskai︠a︡ Sot︠s︡ialisticheskai︠a︡ Respublika --- Ukrainskaya Sovetskaya Sotsialisticheskaya Respublika --- Ukrainujo --- Ukrajina --- Ūkrāniyā --- Ukranya --- Ukrayiina --- Ukrayina --- Ukrayna --- Ukuraina --- Ukyáña --- Wcráin --- Yn Ookraan --- Yr Wcráin --- Yukrain --- Ουκρανία --- Украинæ --- Украина --- Украинэ --- Украинмудин Орн --- Україна --- אוקראינע --- אוקראינה --- أوكرانيا --- ウクライナ --- 우크라이나 --- Ukraine (Hetmanate : 1648-1782) --- Economic conditions. --- Economic policy. --- Politics and government --- Economic aspects. --- E-books --- Banks and Banking --- Foreign Exchange --- Inflation --- Money and Monetary Policy --- Public Finance --- Budgeting --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Debt --- Debt Management --- Sovereign Debt --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Price Level --- Deflation --- National Budget --- Budget Systems --- Banking --- Currency --- Foreign exchange --- Public finance & taxation --- Macroeconomics --- Monetary economics --- Budgeting & financial management --- Exchange rates --- Public debt --- Currencies --- Bank deposits --- Money --- Budget planning and preparation --- Public financial management (PFM) --- Banks and banking --- Debts, Public --- Prices --- Budget