IMF approves EUR 1.2bn disbursement for Ukraine.

By bne IntelliNews December 24, 2010
The International Monetary Fund's (IMF) board of directors has decided to allocate Ukraine with second tranche of the stand-by loan arrangement of USD 1.5bn (total amount of the borrowing USD 15.15bn), reads a statement made by the IMF press service. According to John Lipsky, First Deputy Managing Director and Acting Chair, Ukraine's satisfactory performance under the economic program supported by the stand-by arrangement, along with strong policy commitments for the coming year, are supporting a steady recovery in confidence and broadening of economic activity. The authorities remain committed to timely implementation of fiscal, energy, and financial sector reforms that are essential to achieve program objectives. Sustained implementation of reforms will help entrench macroeconomic stability, boost confidence, facilitate access to capital markets, and promote more balanced and robust growth". Ukraine's 29-month SBA was approved on July 28, 2010, in the amount of SDR 10bn (USD 15.3bn) in support of the authorities economic adjustment and reform program.

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