Lagarde discussed the latest political developments and the efforts
of the Ukrainian authorities to implement reforms supported by the IMF
program at a meeting with Governor of the National Bank of Ukraine (NBU)
Valeriya Gontareva and Foreign Minister Pavlo Klimkin in Washington on
As reported, the IMF Executive Board on April 30 approved a two-year Small Business Administration (SBA) worth Special drawing rights (SDA) 10.976 billion (about $17.01 billion) for Ukraine. Early
in May, the IMF transferred the first tranche worth SDR 2.058 billion
(about $3.2 billion), with SDR 1.29 billion (about $2 billion) allocated
to the Ukrainian government for budget support.
The IMF mission arrived in Ukraine for the first review of the
program on June 24 and worked until July 18. As part of the first review
the sides discussed the adjustment of the macroeconomic forecast and
the state budget for 2014, including due to the unstable situation in
Donetsk and Luhansk regions.