On 11 March, the International Monetary Fund (IMF) Executive Board approved an Extended Arrangement under the Extended Fund Facility (EFF) of SDR 12.348 billion (about USD 17.5 billion, EUR 15.5 billion) for Ukraine, based on a comprehensive economic reform programme supported by the Fund as well as by additional resources from the international community.
Building on the actions taken under the earlier Stand-By Arrangement, this new four-year extended arrangement will support immediate economic stabilisation in Ukraine and a set of deep and wide-ranging policy reforms aimed at restoring robust growth over the medium term and improving living standards for the people.
According to Christine Lagarde, Managing Director of the IMF, the change in the IMF-supported programme from Stand-By Arrangement to Extended Arrangement under the EFF, which is consistent with the more protracted nature of Ukraine’s balance-of-payment needs, will provide more funding, more time, more flexibility, and better financing terms for Ukraine. Other bilateral and multilateral financing is also being made available to support the reforms.
Contact:
Katherine Yevtushenko
Relationship Manager, Global Securities Services Ukraine
Tel.: +38 044 590 1210
Kateryna.Yevtushenko@unicredit.ua