Finance Ministry reflects on prospects of reaching deal on IMF loan

Ukraine will "continue to do its job" and pass legislation required to receive loan funds, says Marchenko.

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Ukraine and the International Monetary Fund may in the next two months reach a staff-level agreement to unlock funding, according to Finance Minister Serhiy Marchenko.

"We expect we will reach an agreement, so to speak, at the staff level, in the next two months, and we will continue to do our job, pass laws required to finally receive funds," Marchenko told one of Ukraine's TV channels.

Read alsoIMF publishes outlook for Ukraine economy until year-endCooperation with IMF: Background

On June 9, 2020, the IMF's Executive Board adopted an 18-month Stand-By Arrangement (SBA) worth SDR 3.6 billion, or about US$5 billion, aimed at helping Ukraine overcome the consequences of the COVID-19 pandemic.

On June 12, Ukraine received the first IMF disbursement worth US$2.1 billion under the SBA.

In late November, the Finance Ministry reported on the successful completion of talks with the IMF on benchmarks of the draft budget for 2021, which was one of the major prerequisites for starting the SBA review.

On January 11, 2021, an IMF mission resumed work in Kyiv, they worked until February 12 but departed without issuing any decision on the SBA review.

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