(Xinhua) — The International Monetary Fund (IMF) has approved a new program for Ukraine to support its macroeconomic and financial stability and catalyze donor financing, the National Bank of Ukraine said Tuesday.
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 program of the IMF, the bank said in a statement.
The program is aimed at mobilizing state budget revenues, strengthening the financial sector, and improving management transparency and effectiveness for state-owned enterprises.
“Ukraine hopes that the approval of the program 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.
