Russia’s War Against Ukraine

(FILES) This file photo taken on July 5, 2015 shows the seal of the International Monetary Fund (IMF) at the organization’s headquarters in Washington, DC.

Photo by AFP

Ukraine counts on the launch of the new three-year program by the International Monetary Fund (IMF) in December 2019, according to Ukrainian Prime Minister Oleksiy Honcharuk.

“Formally, the program that was opened last year is still in effect. Negotiations on a new three-year program are underway. We expect this program to be launched in December for three years. This memorandum is due to appear in December,” he said at a press briefing in Kyiv on Monday.

The current cooperation program between Ukraine and the IMF under the Stand By Arrangement (SBA) was approved on December 19, 2018. The volume of the 14-month program is equivalent to SDR 2.8 billion, or about $3.9 billion. At the same time, SDR 1 billion (about $1.4 billion) was provided immediately.

Earlier, the NBU predicted that an agreement on the new extended fund facility with the IMF for three or four years in the amount from $5 billion to $10 billion could be reached before the end of this year, which will allow receiving the first tranche of it in the amount of about $2 billion before January.

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