Wirtschaft ⇒ IMF Completes First Review Under Stand-By Arrangement with Ukraine and Approves €1.2 Billion Disbursement

[Handrij]

The Executive Board of the International Monetary Fund (IMF) today completed the first review of Ukraine’s economic performance under the program supported by a Stand-By Arrangement (SBA). The completion of the review enables the immediate disbursement of SDR 1 billion (about €1.2 billion, or US$1.5 billion). Drawing the full amount would bring total disbursements under the program to SDR 2.25 billion (about €2.6 billion, or US$3.4 billion).

Ukraine’s 29-month SBA was approved on July 28, 2010, in the amount of SDR 10 billion (about €11.7 billion, or US$15.3 billion) in support of the authorities’ economic adjustment and reform program (see Press Release No. 10/305). The SBA entails exceptional access to IMF resources, amounting to 728.9 percent of Ukraine’s quota in the Fund.

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