The Executive Board of the International Monetary Fund (IMF) on Aug. 29 completed the first review of how Ukraine fulfils the economic program backed by the Stand-By Arrangement (SBA) and approved the SBA second tranche worth SDR 914.67 million ($1.39 billion), the IMF said in a statement.
The IMF says that the SBA worth SDR 10.97 billion ($16.67 billion) was approved on April 30, 2014, to support the Ukrainian government’s economic program aimed to restore macroeconomic stability, strengthen economic management and transparency, and renew sustainable economic growth and protect vulnerable groups of the population.
After the allocation of the second tranche, the total sum of the SBA assistance is SDR 2.97 billion ($4.51 billion) at the moment.
While commenting the second tranche, Ukrainian Prime Minister Arseniy Yatseniuk wrote on Twitter: “[The] IMF has just passed a unanimous decision to allocate the next tranche of budget support to Ukraine. A welcome sign of support and confidence.”
