Ukraine Imf Agreement

“International Monetary Fund (IMF) staff and the Ukrainian authorities have reached a staff-level agreement on economic policy for a new 18-month confirmation agreement (SBA). The new SBA, which has requested access of SDR 3.6 billion ($5 billion), aims to provide balances of payments and budgetary support to help the authorities cope with the effects of the COVID 19 shock, while consolidating previous results and pursuing major structural reforms aimed at reducing key weaknesses. This will ensure that Ukraine is well equipped to return to growth and resume its broader reform efforts after the end of the crisis. The agreement should also benefit from additional bilateral and multilateral financial assistance. Ukraine was the IMF`s third largest borrower in May 2010, after Romania ($12.5 billion) and Hungary ($11.6 billion). [4] On July 28, 2010, the IMF approved a 29-month loan to Ukraine for $15.15 billion. [7] This led in particular to an increase in household prices of natural gas in homes in July 2010 for Ukrainian consumers (a central requirement of the IMF in exchange for the loan). [8] The Fund stated on 20 December 2013 that the second Azarov government had only partially implemented the 2010 agreements, “and in this context, the programme had not been implemented. [10] Zelensky, the National Bank of Ukraine and the previous national government reached an agreement with the IMF in early December 2019 for the opening of a new three-year FEP programme worth $5.5 billion. It was possible to increase the envelope to $8 billion. The programme was to replace the 14-month confirmation agreement, worth SDR 2.8 billion (about $3.9 billion) to support Ukraine in last year`s presidential and legislative elections. It expired on February 17, 2020. Kyiv.

May 22 (Interfax) – The International Monetary Fund (IMF) and the Ukrainian authorities have reached a staff-level agreement on economic policy for a new $5 billion (SBA) arrangement to help Ukraine cope with the coronavirus pandemic, as announced by the IMF in a statement released Friday morning. In December 2013, Ukrainian Prime Minister Mykola Azarov noted the “extremely difficult conditions” of a renewed IMF loan submitted by the Fund on 20 November of the same year.

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