G7 ambassadors congratulate Ukraine, IMF on reaching new assistance program

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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