IMF, Ukraine to switch to 18-months-long stand-by program, - Fund representative

Source : 112 Ukraine

This terminates the three-years-long EFF program that the sides agreed on before
18:27, 7 May 2020

Jerry Rice
Open source

The International Monetary Fund and Ukraine will sign an agreement on the new 18-months-long program. Jerry Rice, the IMF representative in this country said so in a commentary for Interfax-Ukraine news agency. 

"The negotiations switched to 18-months-long stand-by program", he said as cited by the agency during the regular briefing in Washington. 

This terminates the three-years-long EFF program that the sides agreed on before. The last stand-by program between Ukraine and the IMF ran for 14 months; it was signed in late 2018, and the first tranche for 1.4 billion dollars was issued then. Ukraine never received the remaining loans - because of the 2019 presidential election and failure to live up to the Fund's demands.

Related: Zelensky convinced Ukraine will receive financial assistance from IMF

We recently reported that Ivana Vladkova-Hollar became the leader of the IMF mission in Ukraine. The IMF press office reported this on May 7. 

The Bulgarian citizen chaied the Fund's delegation in Ukraine on May 1. She previousy led the Fund's missions in Moldova and North Macedonia.

Earlier, the National Bank of Ukraine said it expected a loan from the IMF in the second quarter of 2020.

Related: Ivana Vladkova-Hollar chairs IMF mission in Ukraine

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