Ukraine pays off debt to IMF under stand-by program of 2014

Final payments amounted to 156 million in dollar terms.

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Ukraine has settled with the International Monetary Fund under the stand-by program launched in 2014, according to the National Bank of Ukraine.

The final payments totaled $156 million in dollar terms, the NBU has told UNIAN.

In exchange for the incomplete stand-by program in 2014, Ukraine in 2015 concluded with the IMF an Extended Fund Facility (EFF), which was also replaced by the current stand-by program before it was set to complete in December 2018.

According to the statement by Minister of Finance Oksana Markarova, Ukraine is ready for the arrival of the IMF review mission, expected in September, to discuss a new program, which may become the last one, so that the country could do without the support of the external creditor.

Read alsoUkraine makes largest payment on debt in 2019 at $1.1 bln

As UNIAN reported earlier, the IMF mission worked in Ukraine in May in order to review the fulfillment of the conditions for the provision of the next tranche of a loan worth $1.3 billion under the current stand-by program and to study the issue of liability for illicit enrichment, which was canceled in February by a decision of the Constitutional court of Ukraine.

Following the visit, the IMF announced that the Fund would resume negotiations on further cooperation with Ukraine after the elections to the Verkhovna Rada are held and the new Cabinet is formed.

On August 29, the Verkhovna Rada appointed Oleksiy Honcharuk Prime Minister and approved the new composition of the government, and on August 30, the newly appointed head of government announced the arrival of the IMF mission in the period from Sept 10 to Sept 24.

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