REUTERS
The schedule of all the disbursements under the SBA will be decided next week
The amount of the first disbursement under a new Stand-By Arrangement (SBA) worth US$3.9 billion between the International Monetary Fund (IMF) and Ukraine will be announced on December 18.
"A staff-level agreement has been agreed between the IMF and Ukraine on a new Stand-By Arrangement, and this will be equivalent to about $3.9 billion. This will be considered by the [IMF Executive] Board on December 18," Director of the IMF Communications Department Gerry Rice said at a press briefing in Washington, D.C.
"In terms of the first disbursement and the precise amount – that will be the decision for the Board next week," he said.
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"It's proceeding. The Board meeting is going ahead," he assured when asked whether current escalation between Russia and Ukraine may affect the latter's cooperation with the IMF.
Rice noted that the Ukrainian government had affirmed its commitment to continue with macroeconomic policies and reforms to attract investment, as well as to achieve stronger growth.
"The Board will decide on the schedule of the disbursements next week," he added when asked how many disbursements are scheduled.
UNIAN memo. The IMF and the Ukrainian authorities earlier reached agreement on economic policies for a new 14-month SBA worth US$3.9 billion, which is to be approved by the IMF's Executive Board. The new SBA will replace the arrangement under the Extended Fund Facility (EFF), approved in March 2015 and set to expire in March 2019.
Board consideration is expected later in the year following parliamentary approval of a government budget for 2019 consistent with IMF staff recommendations and an increase in gas and heating tariffs for households, reflecting market developments while continuing to protect low-income families.
Experts predict that Ukraine is able to raise up to $8 billion in funding from international partners thanks to a new program with the IMF.
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