IMF to consider new loan program for Ukraine on June 9
A meeting of the International Monetary Fund (IMF) Executive Board on the allocation of the first tranche for Ukraine under a new Stand-By Arrangement (SBA) is scheduled for June 9.
The IMF will also evaluate the 2015 Extended Fund Arrangement during the meeting, as reported at the IMF Executive Board Calendar on June 3, 2020.
As UNIAN reported earlier, Ukrainian Prime Minister Denys Shmyhal said Ukraine's government expects the IMF to make a final decision by June 10 on the allocation of the first tranche for Ukraine under the new SBA.
UNIAN memo. An IMF staff team led by Ivanna Vladkova Hollar concluded remote discussions with the Ukrainian authorities on May 21 and reached a staff-level agreement on economic policies for a new 18-month SBA.
The new SBA, with a requested access of SDR 3.6 billion (equivalent to US$5 billion), aims to provide balance of payments and budget support to help the authorities address the effects of the COVID-19 shock, while consolidating achievements to date, and moving forward on important structural reforms to reduce key vulnerabilities.
The National Bank of Ukraine predicts the first US$2 billion disbursement from the IMF will arrive in the second quarter of 2020.