Governor of the National Bank of Ukraine (NBU) Yakiv Smolii does not rule out that a first tranche under the new Stand-By Arrangement (SBA) from the International Monetary Fund (IMF) could arrive this year. “For the time being we cannot talk about exact deadlines, since the decision will be made by the IMF board. We expect it to take place in December, and we can expect to receive a tranche this year,” he said at a monetary briefing in Kyiv.
As reported, the International Monetary Fund (IMF) staff and Ukraine have reached an agreement on economic policies for a new 14-month Stand-By Arrangement (SBA), which will replace the arrangement under the Extended Fund Facility (EFF), approved in March 2015 and set to expire in March 2019.
The agreement is subject to approval by the fund’s management and approval by its board of directors. The board’s meeting is expected to take place at the end of the year after the Verkhovna Rada adopts the national budget for 2019 in accordance with the recommendations of the IMF and the increase in gas and heating tariffs for households, reflecting market trends while maintaining support for low-income consumers.