Ukraine: Staff Report for the 2012 Article IV Consultation (Electronic book text)

Following the 2008/9 financial crisis and deep recession, a cyclical recovery took hold in Ukraine, supported by a stronger external environment. Efforts to consolidate public finances and repair the banking system began strengthening Ukraines resilience to external shocks. More recently, policies have not been sufficient to meet key objectives, and the government has hesitated to undertake politically unpopular reforms. The external environment has become less supportive, and the recovery is losing momentum.