G7 ambassadors congratulate Ukraine, IMF on reaching new assistance program

The Ambassadors of the G7 countries have congratulated Ukraine and the International Monetary Fund (IMF) on reaching an agreement on a new 18-month Stand-By Arrangement worth $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,” the ambassadors wrote on their Twitter account.

As Ukrinform reported, the IMF staff and the Ukrainian authorities reached staff-level agreement on economic policies for a new 18-month Stand-By Arrangement (SBA).

The new SBA aims to provide balance of payments and budget support to help the authorities address the effects of the COVID-19 shock, while consolidating achievements to date, and moving forward on important structural reforms to reduce key vulnerabilities.

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