G7 ambassadors in Ukraine have welcomed reaching of the staff-level agreement between Ukraine and the International Monetary Fund (IMF) on the new 18-month Stand-By Arrangement (SBA) in the amount of $5 billion.

"The G7 Ambassadors congratulate Ukraine and the IMF on reaching staff-level agreement on a new assistance program that will bolster Ukraine's macroeconomic stability and help it manage the COVID-19 crisis," reads a report of G7 Ambassadors' Support Group in Kyiv on Twitter.

As reported, in late hours of May 21, IMF and Ukrainian authorities have achieved a staff-level agreement on a new Stand-By Arrangement (SBA) to help Ukraine deal with the COVID-19 pandemic.