ZCZC
BCN-22
UKRAINE-BANK-IMF-AID
Ukraine gets 1.4 bln USD in first tranche from IMF
KIEV, Dec. 22, 2018 (BSS/Xinhua) – Ukraine has received the first tranche
of 1.4 billion U.S. dollars from the International Monetary Fund (IMF) fresh
Stand-By Arrangement (SBA), Ukraine’s central bank said on Friday.
The funds helps the East European country to boost its foreign exchange
reserves to 20.1 billion dollars, the highest level in five years, the bank
said in a statement.
The aid, which is expected to pave the way for financial assistance from
other creditors, including the European Union and the World Bank, will allow
Ukraine to maintain the sufficient level of reserves throughout 2019, the
bank said.
On Tuesday, the IMF Executive Board approved 14-month SBA for Ukraine worth
3.9 billion dollars.
The Ukrainian government said the program would be an instrument to ease
Ukraine’s debt burden, reduce inflation, intensify anti-corruption, tax, and
energy reforms and keep Ukraine’s sustainable growth during the presidential
and parliamentary elections in 2019.
BSS/XINHUA/HR/1445