New IMF program facilitates Ukraine's access to funds worth $8 million, - American Council analyst

Source : 112 Ukraine

According to Anders Åslund, American Council analyst, it will be enough for the next year, when elections are held in Ukraine
08:26, 23 October 2018

Voice of America

Anders Åslund, American Council analyst, stated that the new IMF program would facilitate Ukraine to access funding in the amount of $8 billion which would keep hryvnya exchange rate steady next year, as he said in an interview for Voice of America.

“Probably, Ukraine will receive $2 billion from IMF, $2 billion from the EU and the World Bank, Ukraine’s Government will probably deploy Eurobonds for $2 billion more, and state companies will probably deploy Eurobonds for $2 billion more and more,” he said.

Related: Ukraine and IMF agree on new Stand-By Arrangement program for $3.9 billion

The analyst stressed that IMF program would settle two main aspects which caused concern of the observers – limited reserves of the central bank and budget funds.

Reportedly, on October 19, IMF and Ukraine concluded an agreement on a 14-month program of support of economic policy stand-by (SBA), which is to replace the program of expanded funding (EFF), approved in March 2015 (it ends in March 2019).

Related: Ukraine's GDP per capita to grow 1.5 times in five years according to IMF

Earlier, Fitch Ratings confirmed long-term sovereign ratings of Ukraine’s issuer default in foreign and local currency at the “B-’ level with a stable forecast.   

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