Size of IMF financial support for Ukraine to remain unchanged – Finance Ministry

“Considering the large-scale global financial and economic crisis caused by the spread of COVID-19 and general economic uncertainty about the duration and intensity of the pandemic, the IMF has changed its approach to the duration of programs with countries and offers to continue cooperation with Ukraine on a shorter Stand-By Arrangement,” the ministry wrote on Facebook.

At the same time, negotiations with the International Monetary Fund are currently underway. The ministry noted that the program’s modality (EFF or Stand-by) is still under discussion.

According to the ministry, the main difference between these programs is the term of their implementation: Stand-by is designed for 1.5 years, while EFF for 3 years.

The Ukrainian government plans to finalize negotiations with the IMF next week, the ministry stressed.

As Ukrinform reported, negotiations between the IMF and Kyiv aim not at securing a three-year Extended Fund Facility (EFF) for Ukraine, but at achieving the conditions for launching the 18-month Stand-by Arrangement.

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