IMF: Details of new standby arrangement for Ukraine subject to discussion

IMF: Details of new standby arrangement for Ukraine subject to discussion

Director of the IMF Communication Department Jerry Rice confirmed that the Fund's Executive Board will make a decision on a new standby arrangement for Ukraine on June 9, but the agreement details are still subject to discussion.

“The agreement on the standby arrangement is, again, subject to discussion and approval by our Executive Board, as in all cases, and that Board discussion is expected on June 9th,” Rice said at the IMF online press briefing on Thursday, an Ukrinform correspondent reports.

At the same time, he did not comment on the leak of the IMF-Ukraine memorandum in the media.

“We never comment on leaked documents, but what I can tell you is that the IMF is a transparent institution,” the IMF representative said.

In this regard, he emphasized that based on IMF’s transparency policy, the agreement with Ukraine and all the accompanying documents and details would be published soon after the IMF Executive Board meeting scheduled for June 9.

“This is what we do. We publish our agreements with countries, so that you can see them, the world can see them,” Rice emphasized.

As reported, on May 21, the IMF and the Government of Ukraine reached a preliminary agreement to launch a new standby arrangement, which provides for the allocation of $5 billion and is designed for 18 months.

The Fund stressed that the arrangement would help Ukraine to effectively overcome the effects of the coronavirus crisis in the economy and health care sector.


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