The IMF Board will consider the second tranche under Stand-by for Ukraine on November 22

Photo Ukrinform

The Board of Directors of the International Monetary Fund (IMF) will consider the first revision of the Stand-by Arrangement (SBA) for Ukraine and its second tranche on November 22.

This information was posted on the website of the IMF, UA reports.

On October 18, the IMF announced that it had reached an agreement with Ukraine on a staff-level agreement (SLA) on the first revision of the program.

“This paves the way for the first review of the SBA and the request for an extension of the program by the IMF’s board of directors. Completion of the first review will allow (Ukraine) to allocate SDR500 million (almost USD 700 million)” – the statement reads.

The Head of Mission, Ivanna Vladkova Hollar, announced that an agreement had been reached on an updated set of policies on economic, financial and structural reforms to help Ukraine cope with the economic and health crisis caused by COVID-19 and maintain macroeconomic and financial stability and remove major barriers to private investment.

Vladkova Hollar said that as the economy recovers, the program focuses on returning fiscal policy to conditions compatible with medium-term debt sustainability, while protecting socially vulnerable groups.

To remind, Ukraine may receive the next tranche of the IMF financing program by the end of this year in the amount of about USD 1.4 billion. 

Read also: Marchenko: Ukraine is interested in continuing the IMF program for six months