PM Shmyhal reports on rapprochement with IMF

The current SBA with the IMF was adopted on June 9 / REUTERS

Ukrainian Prime Minister Denys Shmyhal has reported on a rapprochement with the International Monetary Fund (IMF), the country's key lender.

Shmyhal announced this on Telegram on October 28.

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"We see our positions with the IMF approaching rapidly. We've just had a productive meeting with our international partners from the Fund," he said.

"Ukraine has made significant progress in fulfilling its obligations. I thank a lot to [Director of the European Department at the IMF] Alfred Kammer and the IMF for the dialogue. Strong partnership with the IMF is a guarantee of Ukraine's long-term stability," he added.

Earlier developments

• On June 9, the IMF's Executive Board adopted an 18-month Stand-By Arrangement (SBA) for Ukraine with funding equivalent to SDR 3.6 billion (about US$5 billion) aimed at helping Ukraine overcome the consequences of the COVID-19 pandemic.
• On June 12, Ukraine received the first disbursement from the IMF loan under the new 18-month SBA between Ukraine and the Fund in the amount of US$2.1 billion.