IMF still waiting for much more progress by Ukraine before second SBA tranche – fund

18:14, 10.06.2021 1 min read

Ukraine and the International Monetary Fund (IMF) are still in close discussions on the Stand-By Arrangement aimed at completing its first review and the issue of the second tranche, IMF Spokesperson Gerry Rice has said.

He said at a traditional briefing in Washington some progress has been made, but more is needed to complete the first review.

Rice, without disclosing details, recalled that the goal of the measures specified in the program is, in particular, to improve governance in the National Bank and legislation on banking supervision, to reduce the budget deficit in the medium term, and to strengthen the anti-corruption vertical and the judicial system.

On June 9, 2020, the IMF approved a new 18-month Stand-By Arrangement for Ukraine for SDR3.6 billion (about $5 billion) with an immediate issue of $2.1 billion of the first tranche.