IMF notes progress in discussions with Ukraine on new EFF arrangement

IMF notes progress in discussions with Ukraine on new EFF arrangement

Ukrinform
Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has noted significant progress in discussions with the Ukrainian authorities on a new Extended Fund Facility (EFF) arrangement.

The IMF Managing Director said this in a statement published on the IMF website on March 26.

“This last week, very good progress has been made in the discussions with the Ukrainian authorities on the new Extended Fund Facility (EFF) arrangement. Adoption of legislation to improve the bank resolution framework and on land reform would allow moving forward quickly with finalizing the parameters of the new arrangement, with larger access than previously envisaged,” the statement reads.

As reported, on January 18, 2020, IMF Managing Director Kristalina Georgieva said that Ukraine should fulfill preliminary requirements for the launch of a new Extended Fund Facility (EFF) program worth $5.5 billion. According to her, Ukraine and the IMF have reached a staff-level agreement that stipulates the fulfillment of certain preliminary requirements.

In December 2019, the IMF agreed with the Ukrainian government on a new three-year EFF program for 4 billion Special Drawing Rights (SDRs), or about $5.52 billion.

ish


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2020 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period:
-