Considering the large-scale global financial and economic crisis caused by the spread of COVID-19 and general economic uncertainty about the duration and intensity of the pandemic, the IMF has changed its approach to the duration of programs with countries and offers to continue cooperation with Ukraine on a shorter Stand-By Arrangement.

The size of the program for the relevant periods remains unchanged.

At the same time, negotiations with the International Monetary Fund are currently underway. The program’s modality (EFF or Stand-by) is still under discussion. The main difference between these programs is the term of their implementation: Stand-by is designed for 1.5 years, while EFF for 3 years.

The Government plans to finalize negotiations with the IMF next week.