Ukraine expects arrival of IMF mission next week – Ministry of Finance

Ukraine expects arrival of IMF mission next week – Ministry of Finance

The virtual mission for the first revision of the SBA ended in mid-February with no recommendation for a second tranche. On June 9, 2020, the IMF approved a new 18-month SBA for Ukraine worth about USD 5 billion with the immediate disbursement of USD 2.1 billion as the first tranche. ish

The World Bank is one of the key partners of Ukraine. To date, the disbursement of funds within the portfolio of the International Bank for Reconstruction and Development (IBRD) – one of the structures of the World Bank – is the largest in comparison with other international financial institutions – it amounted to USD 2.3 billion as of September 1, 2021. “We appreciate our cooperation with the World Bank. It allowed Ukraine to maintain macro-financial stability and finance the budget deficit in a difficult year. Also, which is extremely important, this year we have enough funds to purchase the required amount of vaccines,” the minister emphasized.

As reported, Minister of Finance of Ukraine Serhiy Marchenko suggested that the current 18-month Stand-By Arrangement (SBA) with the International Monetary Fund (IMF) could be extended for six months. At the meeting, the parties discussed the conditions for obtaining a Second Economic Recovery Development Policy Loan, cooperation with the International Monetary Fund, the results of the implementation of joint projects, a green transition in Ukraine, and the main directions of further cooperation.

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