IMF reaches staff agreement for $5 bln Ukraine financing

The International Monetary Fund said it has reached a staff-level agreement with Ukraine for a new $5 billion, 18-month Stand-By Arrangement to help the Eastern European country address the economic shock caused by the coronavirus pandemic.

The agreement, subject to approval by the IMF's executive board, aims to provide balance of payments and budget support and "will ensure that Ukraine is well poised to return to growth and resume broader reform efforts when the crisis ends," IMF Ukraine mission chief Ivanna Vladkova Hollar said in a statement.