Ukraine and the IMF have tentatively agreed on a tranche of $700 million

Employees of the International Monetary Fund (IMF) and the Ukrainian authorities reached an agreement at the working level on the revision of the loan program, the press service of the fund reported.

“This paves the way for consideration of the first revision of the SBA (Stand-by Arrangement, Stand-by Arrangement) and a request for an extension of the program by the IMF’s executive board,” the organization said in a statement. The fund noted that the completion of the first review of the agreement will allow paying about $700 million to Ukraine.

The HEAD of the IMF mission in Ukraine, Ivanna Vladkova Hollar, specified that these are agreements “on an updated list of measures in economic, financial and structural policies to help cope with the economic and HEALTH crisis caused by covid-19 , while maintaining macroeconomic and financial stability."

According to Hollar, Ukraine's cooperation program with the IMF will focus on ensuring the independence of the central bank, fighting corruption, promoting judicial reform, reducing the role of the state and interest groups in the economy, and other tasks.