IMF mission kicks off Ukraine’s SBA review

The mission of the International Monetary Fund is starting its work in Ukraine to discuss the second review of the Fund-supported program.

That’s according to the IMF’s Resident Representative in Ukraine, Vahram Stepanyan, according to Ukrinform referring to Reuters.

"The IMF mission, led by Ivanna Vladkova Hollar, starts discussions today with the authorities on the second review of the Fund-supported program," Stepanyan said.

The meetings with Ukraine's officials will be held via video conference.

As Ukrinform reported, earlier this month the International Monetary Fund stated it was monitoring the situation in Ukraine, intending to hold a second review of the Stand-by Arrangement in the first quarter of this year.

In November, the IMF Executive Board approved a schedule for the two remaining tranches of the SBA.

In June 2020, the IMF launched a lending program to Ukraine, designed for 18 months, which provided for the allocation of $5 billion. The first tranche of $2.1 billion was delivered immediately. In November last year, the IMF Executive Board extended the SBA until late June this year. At the same time, it was decided to allocate the second tranche of nearly $700 million.

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