Ukraine, IMF agree on 5-bln-USD aid program to battle COVID-19

Source: Xinhua| 2020-05-22 21:00:19|Editor: huaxia

KIEV, May 22 (Xinhua) -- Ukraine and the International Monetary Fund (IMF) have reached an agreement on a new 5-billion-U.S.-dollar aid program to help the country cope with impacts of COVID-19 pandemic, the Interfax-Ukraine News Agency reported Friday.

The deal was based on the so-called Stand-By Arrangement, an economic program of the IMF involving financial aid to help countries in need during an economic crisis.

The program will ensure Ukraine's ability to continue moving along the growth path and resume wider reforms when the crisis ends, said Ivanna Vladkova Hollar, mission chief for the Ukraine IMF office.

Kiev expects to receive the first funds before the end of this month or in early June. Enditem