The International Monetary Fund (IMF) will likely conduct the first of several planned reviews of the new Stand-By Arrangement (SBA) with Ukraine around September, IMF spokesperson Gerry Rice said during a press briefing on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 18th June, 2020) The International Monetary Fund (IMF) will likely conduct the first of several planned reviews of the new Stand-By Arrangement (SBA) with Ukraine around September, IMF spokesperson Gerry Rice said during a press briefing on Thursday.
"The program just started, so it is too early to confirm the first review date, but I can tell you that we are looking at around September," Rice told reporters.
The IMF spokesperson noted that the IMF expects to conduct a total of four reviews.
On June 9, the IMF Executive board approved an 18-month Stand-by Arrangement for Ukraine, allowing the country access to $5 billion. The IMF said it approved the arrangement to help Ukraine cope with economic impact of the novel coronavirus pandemic and disbursed immediately the first installment of $2.1 billion.
Rice said the new arrangement will support not only Ukraine's response to the economic fallout from the restrictive measures implemented to fight the novel coronavirus pandemic, but will also help advance some critical reforms.
"This IMF arrangement will help unlock broader international support for Ukraine, including from the European Union under a new macro-financial assistance program," Rice added.
