11:32 11.01.2021

IMF mission to review SBA for Ukraine resumes work

2 min read
IMF mission to review SBA for Ukraine resumes work

The mission of the Europe Office of the International Monetary Fund (IMF) for the first revision of the Stand-By Arrangement (SBA) for Ukraine resumes its work on Monday, the IMF's representative office in Ukraine has told Interfax-Ukraine.

The mission today resumes its work with meetings with representatives of the authorities, the representative office said in response to Interfax-Ukraine's request.

The office recalled that the mission is involved a remote discussion with the Ukrainian authorities on the latest topical economic events, as well as measures and reforms necessary to complete the first revision of the SBA.

"We expect a series of productive negotiations and online meetings with our partners for the successful completion of the review of the Stand-By Arrangement. This, in turn, will open up opportunities for Ukraine to receive the next tranche," Prime Minister Denys Shmyhal said on Facebook.

He stressed that the government supports the course of reforms, and cooperation with the IMF is a marker of stability for Ukraine.

"Together with the president and the NBU, we made every effort to implement the "structural benchmarks" necessary to review the program. In particular, we reduced non-performing loans in state banks and reorganized the customs and tax authorities, which, in particular, together exceeded the plan by more than 26% in December," the prime minister said.

As reported, the mission worked on December 21-23 last year, after which a break was taken for the holidays.

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