Ukrainian Prime Minister Arseniy Yatseniuk has expressed hope that the mission of the International Monetary Fund (IMF) which started a first revision of the Stand-By Arrangement (SBA) in Kyiv on June 24 will work successfully, and amendments to the SBA will be made, taking into account the forced growth in expenses on defense and security of the country.
“I hope that our partners from the IMF will take into account all of
the new challenges and difficulties Ukraine faces now,” the prime
minister said opening a cabinet meeting in Kyiv on Wednesday.
He said that despite the difficulties, Ukraine is observing all criteria under the SBA.
As reported, the Executive Board of the International Monetary Fund
(IMF) on April 30 approved a two-year SBA worth SDR 10.976 billion
(about $17.01 billion), for Ukraine.
The approval of the SBA enabled the immediate disbursement of SDR
2.058 billion (about $3.19 billion), with SDR 1.29 billion (about $2
billion) being allocated to budget support, which was performed in early
May.
It is projected that the second-fourth disbursements scheduled for
July 25, Sep. 25 and Dec. 15, 2014 will total SDR 914.7 million
each, while the fifth-eighth quarterly disbursements of 2015 will
amount to SDR 1.372 billion each. The ninth disbursement of SDR 686
million will be provided in mid-March 2016 if the terms and conditions
stipulated in the program are observed.
