IMF approves new program to support Ukraine's macroeconomic stability

The IMF has approved a new programme for Ukraine to support its macroeconomic and financial stability and catalyse donor financing, the National Bank of Ukraine said.

The four-month Program Monitoring with Board Involvement does not directly provide financial assistance, but creates instruments for transitioning to a new, long-term upper-credit tranche programme of the IMF, the bank said in a statement on Tuesday.

The programme is aimed at mobilising state budget revenues, strengthening the financial sector, and improving management transparency and effectiveness for state-owned enterprises, Xinhua news agency reported.

"Ukraine hopes that the approval of the programme will provide our partners with confidence and optimal conditions to ensure sufficiently rhythmic financial inflows amid high needs of the balance of payments and the state budget," Andriy Pyshnyy, the Bank's Governor, was quoted as saying in the statement.

--IANS

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