IMF will consider a new credit program for Ukraine

The International Monetary Fund will consider a new credit program for Ukraine on June 9 – this is evidenced by the calendar of meetings of the IMF Board of Directors. As stated in the work plan of the IMF Council, at the meeting on Tuesday a decision will be made on a new stand-by program for Ukraine and an assessment of the implementation of the previous program from 2015. The Ukrainian authorities and the IMF management in December 2019 tentatively agreed to open a new three-year EFF program for $ 5.5 billion.

But on May 7, IMF spokesman Jerry Rice said that the focus of negotiations between Ukraine and the International Monetary Fund has shifted from the three-year EFF cooperation program to the 18-month stand-by program. He pointed to “unprecedented uncertainty about the economic and financial outlook and the need to focus political priorities on short-term containment and stabilization.” On May 22, it became known that the International Monetary Fund (IMF) has agreed with the Ukrainian authorities at the staff level on a new deal worth $ 5 billion to help Kiev cope with the economic fallout from the coronavirus pandemic.

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