Press Release No. 15/315

Press Release: IMF Announces Staff Level Agreement with Ukraine on First Review under the Extended Fund Facility Arrangement

July 2, 2015

Following further discussions between IMF staff and the Ukrainian authorities since the mission’s return from Kyiv (see Press Release No. 15/243), a staff-level agreement has been reached on a set of policies needed to complete the first review under the Extended Fund Facility Arrangement (EFF). The agreement is subject to approval by IMF management and the Executive Board, once the prior actions are completed and the conditions are in place for staff to assess that public debt is sustainable with high probability and the program is fully financed. The completion of the review would enable the disbursement of SDR 1.18 billion (about US$1.7 billion).