IMF approves Stand-By Arrangement for Ukraine

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IMF approves Stand-By Arrangement for Ukraine 1

The IMF Executive Board has approved an 18-month Stand-By Arrangement for Ukraine, with total access of about $5 billion, the IMF said in a statement on June 9. According to the statement, the approval of the SBA enables the immediate disbursement of about $2.1 billion.

“The Executive Board of the International Monetary Fund (IMF) approved today an 18-month Stand-by Arrangement for Ukraine, with access equivalent to SDR 3.6 billion (about US$5 billion or 179 percent of quota),” the IMF said.

The new program aims to help Ukraine to cope with COVID-19 pandemic challenges by providing balance of payments and budget support, while safeguarding achievements to date and advancing a small set of key structural reforms, to ensure that Ukraine is well-poised to return to growth when the crisis ends.

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