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Ukraine secures USD 700m from IMF, SBA extended

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IMF

At a meeting to review the ongoing Stand-By Arrangement with Ukraine, the IMF Executive Board decided to extend the program and allocate a tranche of about USD 700m.

“The completion of the review allows the authorities to draw the equivalent of about USD 699m (SDR 500m), bringing total disbursements under the current SBA to about USD 2.8bn (SDR 2bn)” the IMF said in a statement.

The Board also approved an extension of the Stand-By Arrangement to end-June 2022 and a rephasing of program disbursements as well as the Ukrainian authorities’ request for a waiver for non-observance of the December 2020 performance criterion on government guaranteed debt in light of the corrective actions already taken.

Ukraine’s IMF supported economic program aims to help the authorities address the effects of the COVID-19 shock, sustain the economic recovery, and move ahead on important structural reforms to reduce key vulnerabilities.

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