Stand-By Arrangement: Shmyhal, Kammer discuss implementation of structural beacons

Prime Minister of Ukraine Denys Shmyhal discussed with Director of the European Department at the International Monetary Fund Alfred Kammer the implementation of structural beacons provided for in the IMF-Ukraine Memorandum under the Stand-By Arrangement.

The meeting took place in a video conference format on November 20, the Government portal reports.

“The parties discussed the strengthening of financial cooperation, the process of reforms in Ukraine and the implementation of structural beacons provided for in the Memorandum of Ukraine with the IMF under the Stand-By Arrangement,” the statement reads.

As noted, the Prime Minister thanked the International Monetary Fund for its consistent and unwavering support aimed to provide Ukraine’s macro-financial stability.

"The support of the International Monetary Fund is a marker of stability for Ukraine, the entire international financial environment and the banking market. Our teams work almost every day, and I express gratitude for the practically round-the-clock work," said Denys Shmyhal.

The Head of Government expressed hope that the IMF would send a positive message of support for the agreements between Ukraine and the European Commission for the disbursement of the next tranche of macro-financial assistance in the near future.

As reported, President of Ukraine Volodymyr Zelensky had a phone conversation with Managing Director of the International Monetary Fund Kristalina Georgieva on November 17.

Zelensky thanked the Fund's team for the decision to increase the first SBA tranche up to $2.1 billion, which allowed Ukraine “to go through this period and finance the expenditures for healthcare, social programs and financial obligations”.

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