As the Kiev representation of the IMF reported, the government and the National Bank of Ukraine agreed with the Fund's mission upon all the questions of the economic program which the IMF can support within the program of financing a "forestalling" stand-by.
The new agreement between Ukraine and the IMF provides for allocating $607 million within twelve months.
The IMF representation's officials noted that Ukraine's government does not plan to make borrowings within this agreement, "since over the past few years the position of Ukraine's balance of payments has substantially improved." The "forestalling" stand-by program envisages allocation of financial resources to Ukraine at a moment when the country will need credit resources. The signing of the agreement will serve as a signal to restore Ukraine's cooperation with the World Bank and the European Bank for Reconstruction and Development. Besides that, it will help reduce the risks of investments in Ukraine's economy by the international rating agencies.
