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Economy 2019-05-15T04:19:15+03:00
Ukrainian news
Ukraine Receives First Tranche Of USD 1.4 Billion From IMF Within Stand-By Arrangement

Ukraine Receives First Tranche Of USD 1.4 Billion From IMF Within Stand-By Arrangement

Ukraine has received the first tranche within a new program of cooperation with the International Monetary Fund Stand-By Arrangement (SBA), the Board of Director of the IMF adopted on December 18, 2018.

The press service of the National Bank of Ukraine announced this in a statement, the Ukrainian News Agency reports.

The statement reads that Ukraine’s receiving SDR 1 billion (USD 1.4 billion) from the International Monetary Fund has increased the international reserves of Ukraine to USD 20 billion as at December 21, 2018.

As Ukrainian News Agency earlier reported, late in April 2014, the International Monetary Fund endorsed a credit program for Ukraine for UAH 17.01 billion. In early May 2014, the International Monetary Fund provide the first tranche of USD 3.19 billion within the stand by credit.

On March 11, 2015, the Board of Directors of the International Monetary Fund adopted four-year Extended Fund Facility worth USD 17.5 billion to replace the stand by program.

In October 2018, Ukraine and the International Monetary Fund agreed on a new Stand-By Arrangement.

The Board Of Directors of the International Monetary Fund approved a new Stand-By Arrangement (SBA) for Ukraine following a meeting on December 18, 2018.

The IMF has published the Memorandum on economic and financial policy within the new program for 2018-2020.

The volume of 14-month program amounts to USD 3.9 billion.

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