You're reading: IMF mission to discuss new agreement with Ukraine on Jan. 29-Feb. 12

A mission of the International Monetary Fund (IMF) will start its work in Ukraine on Jan. 29 to discuss a new Stand-By Arrangement, the press service of the IMF Resident Representative Office in Ukraine said referring to IMF Resident Representative in Ukraine Max Alier. 

“At the request of the Ukrainian authorities, an IMF mission headed by Christopher Jarvis will visit Ukraine on January 29-Feb. 12 to initiate negotiations on a new Stand-By Arrangement,” Alier said.

On January 14, First Vice Premier of Ukraine Serhiy Arbuzov said that Kyiv intends to receive some 10 billion in SDR’s under the new cooperation program with the IMF.

The previous Stand-By Arrangement for SDR 10 billion between Ukraine and the IMF formally terminated in Dec. 2012.

In late July 2010, the IMF decided to renew its loan partnership with Ukraine through a new Stand-By Arrangement worth SDR 10 billion (over $15 billion). According to the NBU, the country succeeded in getting two tranches worth a total of SDR 2.25 billion.

The new program was frozen at the stage of the second review in the spring of 2011. For a year and a half, Ukraine has been trying to persuade the IMF to drop its objections to the government’s subsidizing natural gas tariffs for households until the completion of its gas talks with Russia.