The IMF Executive Board approved an 18-month $5 billion Stand-By Arrangement (SBA) for Ukraine. The approval of the SBA envisages the immediate tranche of $2.1 billion. The remainder will be divided into four reviews.
The program is aimed at helping Ukraine to cope with the challenges amid COVID-19 pandemic 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, reads the IMF press release.
According to the IMF, the full and timely implementation of policies under the Fund-supported program will be critical to mitigate economic risks and lay the ground for stabilization and recovery.
Via IMF
