New Ukraine-IMF program is planned once current program expires, says PM

14 January, 05:19 AM

Ukraine will continue to cooperate with the IMF under a new program once the current Stand-By Arrangement with the International Monetary Fund expires, Ukrainian Prime Minister Dmytro Shmyhal has said, Ukrainian news agency Interfax-Ukraine reported on Jan. 12.

The PM added that cooperating with other international partners remains a government priority this year. In particular, Shmyhal highlighted the continuation of the Macro-Financial Assistance package that the European Union provides to Ukraine.

“We want to establish new programs and projects that would help Ukraine rebuild and steadily grow its economy,” said the prime minister.

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The IMF’s Executive Board completed a review of the Stand-By Arrangement for Ukraine on Nov. 22, 2021. It decided to extend the program through June 2022.

Under the current Stand-By Arrangement with IMF, $5 billion in total has been earmarked for Ukraine. The first tranche, received in June 2020, amounted to $2.1 billion. The country received the second disbursement, of $699 million, on Nov. 24, 2021.

A third tranche is scheduled for June.

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