Feedback

Ukraine receives first IMF tranche under Stand-By program

Source : 112 Ukraine

Thanks to the funding from the IMF, World Bank and the European Commission, Ukraine can end this year with the international reserves amounting around $20 billion, which is more than the NBU predicted
11:29, 21 December 2018
Open source
Ukraine received the first tranche by the new cooperation program with the IMF under conditions of the Stand-By Arrangement (SBA), which the IMF Council adopted on December 18, 2018. The press office of the National Bank of Ukraine reported that on Friday.
The message says that thanks to the transition of 1 billion of special drawing rights (around $1.4 billion, - ed.) from the IMF, Ukraine's reserves went up to $20 billion as of December 21, 2018. Last time such level was recorded in January 2014.
The representatives of the National Bank of Ukraine noted that thanks to the funding from the IMF, World Bank and the European Commission Ukraine can end this year with the international reserves amounting around $20 billion, which is more than the NBU predicted.

The credit program for Ukraine in the amount of $17.1 billion was approved by the IMF in late April 2014, and the first tranche of Stand-By Arrangement loan in the amount of $ 3.19 billion was granted in early May. 

In March 2015, the Board of Directors of the International Monetary Fund approved the allocation of $ 17.5 billion to Ukraine under the 4-year EFF (Extended Fund Facility) program instead of the SBA program. 

Related: IMF worsens economic forecast in Ukraine in 2018

The SBA program has been replaced by the Extended Fund Facility due to the longer need of the balance of payments of Ukraine. 

Topics:
Система Orphus

If you find an error, highlight the desired text and press Ctrl + Enter, to tell about it

Comments
see more