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IMF says agreement reached with Ukraine on new $5 bln program

IMF says agreement reached with Ukraine on new $5 bln program
22 of May 2020 г.
The International Monetary Fund (IMF) and Ukraine have reached a preliminary agreement on a new 18-month Stand-By Arrangement worth $5 billion, the IMF has said in a press release.

"The International Monetary Fund (IMF) staff and the Ukrainian authorities have reached staff-level agreement on economic policies for a new 18-month Stand-By Arrangement (SBA)," the statement reads.

It notes that the new SBA, with a requested access of SDR 3.6 billion (equivalent to $5 billion), aims to provide balance of payments and budget support to help the authorities address the effects of the COVID-19 shock, while consolidating achievements to date, and moving forward on important structural reforms to reduce key vulnerabilities.

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