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Economy 2020-03-15T04:58:07+02:00
Ukrainian news
Ukraine Due To Pay IMF Over USD 150 Million Under 2014 Standby Loan Program On December 3

Ukraine Due To Pay IMF Over USD 150 Million Under 2014 Standby Loan Program On December 3

IMF, loan, payment, stand-by program

On December 3, Ukraine is scheduled to pay the International Monetary Fund more than USD 150 million or SDR 114.333 million (special drawing rights) under the Standby loan program that was approved in 2014.

This is stated in information on the website of the International Monetary Fund, the Ukrainian News Agency reports.

Ukraine is due to pay SDR 114,333,750 on December 3.

The exchange rate of the SDR was UAH 3,862.3 per SDR 100 on November 27.

According to the schedule, Ukraine was due to pay SDR 51.049 million on November 1 and SDR 257.25 million on November 5.

As Ukrainian News Agency earlier reported, the IMF approved a Stand-by loan program worth USD 17.01 billion for Ukraine in late April 2014 and disbursed USD 3.19 billion as the first tranche in early May 2014.

The board of directors of the International Monetary Fund approved disbursement of USD 17.5 billion to Ukraine on March 11, 2015, under the four-year Extended Fund Facility (EFF) loan program, which replaced the Stand By loan program.

The IMF decided to replace the Stand-by loan program with the Extended Fund Facility loan program due to the longer-term requirements of Ukraine’s balance of payments.

Ukraine and the International Monetary Fund reached agreement on a new Stand-By Arrangement (SBA) in October 2018.

The new SBA, with a requested access of SDR 2.8 billion (the equivalent to USD 3.9 billion), will provide an anchor for the authorities’ economic policies during 2019.

Building on progress made under the EFF arrangement in reducing macro-economic vulnerabilities, it will focus in particular on continuing with fiscal consolidation and reducing inflation, as well as reforms to strengthen tax administration, the financial sector, and the energy sector.

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