The International Monetary Fund (IMF) and the Ukrainian government are continuing discussions on the parameters of a new stand-by arrangement instead of the extended fund facility, IMF spokesperson Gerry Rice told reporters on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 07th May, 2020) The International Monetary Fund (IMF) and the Ukrainian government are continuing discussions on the parameters of a new stand-by arrangement instead of the extended fund facility, IMF spokesperson Gerry Rice told reporters on Thursday.
"There is an ongoing virtual mission discussing policies could be supported by what would be a stand-by arrangement rather than the extended fund facility," Rice said during online press briefing.
Rice said both sides had to change their focus in the discussions to a 18-month stand-by arrangement due to unprecedented uncertainty stemming from restrictive measures imposed to address the novel coronavirus (COVID-19) crisis.
"When the recovery is in place, the focus could shift back to addressing Ukraine's longer term structural reform needs," Rice added.
In April, National Bank of Ukraine President Yakiv Smolii said he expects to receive the first tranche from the IMF in the amount of $2 billion during this quarter.
