The Executive Board of the International Monetary Fund has decided to launch a new 18-month Stand-By Arrangement (SBA) for Ukraine with the total access of about US$ 5 billion.
The first tranche of US$ 2.1 billion is to be transferred to Ukraine on June 11, 2020, and to be directed to the State Budget of Ukraine.
That will allow for providing social protection of the population, including measures to prevent the spread of acute respiratory disease COVID-19 caused by the coronavirus SARS-CoV-2 in Ukraine, as well as to ensure timely debt servicing.
The SBA focuses on a key task - maintaining macroeconomic and financial stability, and will cover, inter alia, areas such as: fiscal policy; monetary policy; financial sector policy; energy policy and anti-corruption policy.
The IMF program will open up opportunities for financial support from a number of international partners, in particular: from the World Bank and the European Union.
Following the completion of the IMF's internal procedures for approving the program, the texts of the Letter of Intent and the Memorandum of Economic and Financial Policy, which contain measures to be taken by Ukraine during the program’s implementation, will be published on the official websites of the IMF, the Ministry of Finance and the National Bank of Ukraine.