Ukraine, IMF reach staff-level agreement on new SBA for $3.9 bln
The International Monetary Fund (IMF) staff and the Ukrainian authorities have reached agreement 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 2020.
"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," the IMF said in a statement on Friday.
According to the statement, the agreement is subject to IMF management approval and approval by the IMF Executive Board. Board consideration is expected later in the year following parliamentary approval of a government budget for 2019 consistent with IMF staff recommendations and an increase in household gas and heating tariffs to reflect market developments while continuing to protect low-income households.