The International Monetary Fund (IMF) on June 11 published a letter of intent and a memorandum of economic and financial policy signed by the president, the prime minister, the Minister of Finance and the governor of the National Bank of Ukraine (NBU) as part of the request for a new 18-month Stand-By Arrangement for SDR3.6 billion ($5 billion), satisfied by the fund on June 9.
According to the published materials, after the issue of the first tranche of SDR1.5 billion ($2.1 billion), four program reviews are planned – based on the results of June, September and December of this year, as well as June 2021 with the completion of these revisions on September 1 and December 1 this year and May 15 and October 15 next year.
It is assumed that following two reviews this year, Ukraine will be able to receive another SDR500 million, and following two reviews next year a total of another SDR1.1 billion ($1.5 billion).
A meeting of the Executive Board of the International Monetary Fund (IMF) on the approval of a new Stand-By Arrangement for Ukraine is scheduled for June 9, according to the fund’s website.According to the report, the board at the meeting will also assess the previous EFF program, opened in 2015.
