Kyiv: International Fund staff completed remote discussions of a new $ 5 billion Stand By cooperation program with the Ukrainian authorities, says the IMF press service.
The allocated amount will be directed to “ensuring the balance of payments and budget support” of Ukraine.
“A new stand-by with requested access in the amount of US $ 5 billion will be aimed at ensuring balance of payments and budget support to help the authorities eliminate the consequences of COVID-19 ... This will ensure that Ukraine will be ready to return to growth and resume wider reform when the crisis is over, ”says the report.
At the same time, the press service also emphasized that the final decision on the possible allocation of $ 5 billion to Ukraine will be made by the management of the Fund and the IMF Executive Board in the "coming days".
As previously reported, President of Ukraine Volodymyr Zelensky signed the bill “On Amending Legislative Acts of Ukraine on Improving Some Banking Regulation Mechanisms”.
Adoption of this bill is one of the requirements of the International Monetary Fund to provide Ukraine with another loan.