Economy 2022-06-15T06:49:38+03:00
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Ukraine Pays IMF More Than USD 150 Million On Standby Program Of 2014 On December 3

Ukraine Pays IMF More Than USD 150 Million On Standby Program Of 2014 On December 3

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IMF, stand by program, SDR

On December 3, 2018, Ukraine paid the International Monetary Fund more than USD 150 million or SDR (Special Drawing Rights) 114.333 million on the standby loan program of 2014.

The press service of the National Bank of Ukraine said this to Ukrainian News Agency.

On December 3, Ukraine paid SDR 114,333,750.

The National Bank of Ukraine says the country meets its international liabilities.

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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