Investor Presentaiton
Status of cooperation between Ukraine and the IMF
Key milestones
February 2015: IMF staff Level Agreement on a US$ 17.5bn Extended Fund
Facility Arrangement (900% of quota)
2nd largest IMF program in percentage of quota: compared to 2,159% of
quota for the 2nd program in Greece or 422% for Egypt and 322% for Iraq
With limited front-loading to incentivize reforms
August 2015: Staff Level Agreement on 1st review under the EFF
December 2015: IMF decision on the Status of Ukraine's Eurobond Held by
the Russian Federation
September 2016: Completion of the 2nd review under the EFF and approval
of US$ 1bn Disbursement
April 2017: Completion of the 3rd review of the EFF and disbursement of the
4th tranche of EFF support
October 2018: Staff Level Agreement on the new 14-month Stand-By
Arrangement (to replace current EFF program) for 139% of quota
December 2018: Approval of the Stand-By Arrangement for a total program
amount of US$ 3.9bn by the IMF Board of Directors
Immediate disbursement of the first tranche totaling US$ 1.4bn
Simultaneous cancelation of the arrangement under the EFF approved in
March, 2015
September 2019: IMF mission is expected to visit Ukraine in order to
discuss the following steps of cooperation
Past IMF reviews under the EFF and SBA programs
Availability date / Next reviews
SDR m
US$ m¹
EFF program
March 11, 2015
3,546
4,879
July 31, 2015 [1st review]
1,182
1,659
September 15, 2016 [2nd review]
716
1,003
April 3, 2017 [3rd review]
734
996
Total EFF program
6,178
8,537
SBA program
December 18, 2018
Total SBA program
1,000
1,391
1,000
1,391
Key achieved structural benchmarks and prior actions
EFF:
SBA:
Establishment of the NABU
Parliament approval of the new gas market law
Adoption of a broad-based strategy to reform the SOE sector
Launch of the electronic assets declarations
New pension legislation
New privatization framework
Parliament approval of the law on ACC
Parliamentary approval of 2019 State budget consistent with
the IMF recommendations
Source IMF, Ministry of Finance
September 2019
Increase in household gas and heating tariffs
Note 1 Past tranches translated at NBU XDR/US$ exchange rate as of the date of their receipt; expected tranches converted at XDR/US$ as of September 8, 2019
27
非View entire presentation