(MENAFN- UkrinForm) The IMF Executive Board plans to meet this year to decide on the launch of a new Stand-By Arrangement (SBA) for Ukraine and, in fact, on the disbursement of the first tranche.
Director of the IMF Communications Department Gerry Rice said this at a briefing on Thursday, while answering a question from an Ukrinform correspondent.
"The authorities are now working on the implementation of the prior actions needed for that program to go forward, approval by our Executive Board. In this regard, a small IMF team visited Kyiv last week to assist with the necessary preparations in line with that staff-level agreement," he said.
"At the moment, we would expect Executive Board consideration later this year following the implementation of those prior actions relating to parliamentary approval of the 2019 budget and an increase in heating tariffs in line with the agreements that were reached," Rice added.
On October 19, the IMF and the Ukrainian authorities reached an agreement on economic policies for a new 14-month Stand-By Arrangement (SBA). The new SBA will replace the arrangement under the Extended Fund Facility (EFF), approved in March 2015 and set to expire in March 2019. The new SBA, with a requested access of SDR 2.8 billion (equivalent to $3.9 billion), will provide an anchor for the authorities' economic policies during 2019.
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