IMF reaches agreement with Ukraine on new SBA

WASHINGTON, Oct 19 (KUNA) -- The International Monetary Fund (IMF) announced Friday it reached an agreement with the Ukraine on economic policies for a new 14-month Stand-By Arrangement (SBA), which will replace the arrangement under the Extended Fund Facility (EFF), approved in March 2015 and set to expire in March 2019.
The IMF said in a statement that the new SBA, with a requested access of about USD 3.9 billion, will provide "an anchor for the authorities' economic policies during 2019".
"The agreement reached today reflects the IMF's commitment to continue to help Ukraine achieve stronger, sustainable, and inclusive economic growth," it affirmed.
It noted that the new program has "been developed in close coordination with the World Bank and the European Union, who have parallel operations to support Ukraine," adding "the authorities' steadfast and effective implementation will be critical for the program to achieve its objectives". (end) si.ibi