09:42 10.12.2018

IMF schedules meeting of Executive Board to discuss cooperation with Ukraine for Dec 18

2 min read
IMF schedules meeting of Executive Board to discuss cooperation with Ukraine for Dec 18

A meeting of the Executive Board of the International Monetary Fund (IMF) to discuss the issue of cooperation with Ukraine under the Stand-By Arrangement (SBA) is scheduled for December 18, the IMF has reported on its website.

As reported, Ukraine expects the Executive Board of the International Monetary Fund in December to approve a new 14-month Stand-By Arrangement (SBA) that is to replace the IMF Extended Fund Facility (EFF) that was approved in March 2015 and is coming to an end in March 2019. It is assumed that the SBA with a volume of about $3.9 billion will help Ukraine maintain macrofinancial stability during the presidential and parliamentary elections in 2019, when the country also faces peak payments on foreign debt.

The Verkhovna Rada at the end of November passed a bill on the national budget of Ukraine for 2019 with the deficit within 2.3% of Ukraine's GDP in accordance with the recommendations of the IMF. The IMF said that the document's assessment is satisfactory.

In addition, the National Commission for the State Regulation of Energy, Housing and Utilities Services (NCER) is to review tariffs for heat for heat supply companies after the increase in the price of natural gas for households and heat supply companies by 23.5% from November 1, 2018.

Earlier the IMF said that the fund expects Ukraine to fulfill all the necessary prior actions of the new program until December 10, after which a board meeting will be urgently initiated to discuss the SBA.

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