The International Monetary Fund (IMF) Resident Representative Office in Ukraine says the IMF mission, which is making the first review of the Stand-By Arrangement (SBA) for Ukraine, has resumed its work in Kyiv.
Read alsoIMF mission's review of SBA for Ukraine to last most of Jan – Envoy Rashkovan"Today, the mission of the IMF's European Department on the first revision of the SBA has resumed its work by holding meetings with government officials," the Fund's Representative Office told UNIAN on Monday, January 11.
Ukraine and IMF: Background
- On June 9, 2020, the IMF's Executive Board adopted an 18-month Stand-By Arrangement 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 tranche of the IMF loan under the SBA worth US$2.1 billion.
- 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.