REUTERS
The decision on the SBA was taken on June 9.
The International Monetary Fund (IMF) has published the full text of a letter of intent and the memorandum of economic and financial policy on the new 18-month Stand-By Arrangement (SBA) between Ukraine and the Fund.
The letter of intent and the memorandum were approved by the IMF Executive Board on June 9, 2020. They contain measures and conditions that have been implemented and are planned to be fulfilled by the government of Ukraine and the NBU during 2020-2021 when the program will be in effect.
Read alsoIMF approves 18-month US$5 bln Stand-By Arrangement for Ukraine
In addition, the documents outline specific steps necessary to successfully complete reviews of the program and secure new disbursements under it.
"The implementation of the provisions of the memorandum will allow until the end of the program to receive the rest of the funds from the IMF (US$2.9 billion), which should ensure macroeconomic and financial stability. The Stand-By Arrangement focuses on the key task of supporting macroeconomic and financial stability and covers, inter alia, such areas as fiscal policy, monetary policy, financial sector policy, energy policy and anti-corruption policy," Ukraine's Finance Ministry said.
"The availability of such a program made it possible to obtain the second tranche under the fourth EU Macro-Financial Assistance program in the amount of EUR 500 million," the Finance Ministry said.
As UNIAN reported earlier, the IMF Executive Board on June 9 approved an 18-month Stand-By Arrangement (SBA) for Ukraine, with access equivalent to SDR 3.6 billion (about US$5 billion, or 179% of quota). The first disbursement is worth US$2.1 billion.