The Executive Board of the International Monetary Fund (IMF) may approve the four-year Extended Fund Facility (EFF) program for Ukraine for $15.5 billion by the end of March, this forecast was made by Governor of the National Bank of Ukraine (NBU) Andriy Pyshnyy.
"We have the staff-level agreement on the Extended Fund Facility with the IMF in the amount of about $15.6 billion for four years. The IMF Executive Board must still approve the program. We expect this to happen by the end of the month," he said in an interview with NV.
Pyshnyy stressed that the Ukrainian side had fulfilled all the tasks that it set for itself as part of the work with the IMF mission on March 8-15.
The head of the National Bank also noted that last week the fund revolutionized its policy, making it possible to finance countries where the economic situation is characterized by significant uncertainty, as in Ukraine.
"The changes, in particular, concerned situations of exceptionally high uncertainty, including the impact of external shocks that are beyond the control of the state and cannot be overcome by economic policy measures. Now, in situations with significant uncertainty, the IMF can provide financing to address the urgent needs of the balance of payments of its member states," he said.
He stressed that the program for Ukraine, in fact, marked the beginning of a separate area of the IMF's activities.
According to him, taking into account the agreements reached, the volume of international financial support for Ukraine in the current year may exceed $38 billion, included in the NBU forecast.
