{ "title": "Press Release: Statement by IMF Managing Director Christine Lagarde on Ukraine", "publication": "IMF News, March 11, 2015", "sourceUrl": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr15105", "canonical": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr15105", "overlayPath": "/en/news/articles/2015/09/14/01/49/pr15105/index.md", "summary": "IMF Executive Board approved an Extended Arrangement under the Extended Fund Facility (EFF) of SDR 12.348 billion (about $17.5 billion, €15.5 billion) for Ukraine.", "publishDate": "2015-03-11", "sections": [ { "heading": "Key announcement and program terms", "content": "- IMF Executive Board approved an Extended Arrangement under the Extended Fund Facility (EFF) of SDR 12.348 billion (about $17.5 billion, €15.5 billion) for Ukraine.\n- The arrangement is four-year in duration.\n- The program replaces a Stand-By Arrangement with an Extended Arrangement under the EFF to reflect Ukraine’s more protracted balance-of-payments needs.\n- Expected benefits of the Extended Arrangement as stated:\n - more funding\n - more time\n - more flexibility\n - better financing terms" }, { "heading": "Objectives and focus of the program", "content": "- Support immediate economic stabilization in Ukraine.\n- Support a set of deep and wide-ranging policy reforms aimed at restoring robust growth over the medium term and improving living standards for the Ukrainian people.\n- The program builds on actions taken under the earlier Stand-By Arrangement and is supported by additional resources from the international community." }, { "heading": "Front-loaded measures and reforms", "content": "- Many key measures are front-loaded under the new program, including:\n - further sizable energy tariff increases\n - bank restructuring\n - governance reforms of state-owned enterprises\n - legal changes aimed at combating corruption and strengthening the rule of law\n- The Ukrainian government has taken actions toward consultations with the holders of their public sector debt with a view to improving medium-term sustainability." }, { "heading": "Fiscal, monetary, and social policy actions noted", "content": "- The Ukrainian authorities have:\n - maintained fiscal discipline in very difficult conditions\n - allowed the exchange rate to adjust\n - increased retail end-user prices for gas\n- To cushion the impact of adjustment, especially for the poorest groups, measures are being taken to strengthen and better target the social safety net." }, { "heading": "Risks and outlook", "content": "- The program is ambitious and involves risks, notably those stemming from the conflict in the east of the country.\n- The cease-fire agreed last month in Minsk seems to be largely holding for now, offering hope that a further loss of life can be avoided.\n- With continued firm implementation, the Managing Director stated there is a \"reasonably strong prospect of success.\"" }, { "heading": "Contact and publication details", "content": "- Press Release No. 15/105\n- Date: March 11, 2015\n- IMF Communications Department, Media Relations — E-mail: media@imf.org, Phone: 202-623-7100\n\nSource: Press Release: Statement by IMF Managing Director Christine Lagarde on Ukraine (Press Release No. 15/105), March 11, 2015.\n\n---\n\n Content in this bundle\n\n- Pr15105apdf (PDF){rel=\"external\" type=\"application/pdf\"}\n- Pr15105cpdf (PDF){rel=\"external\" type=\"application/pdf\"}\n- Pr15105jpdf (PDF){rel=\"external\" type=\"application/pdf\"}\n- Pr15105rpdf (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- Ukraine and the IMF\n- Germany and the IMF\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr15105" } ], "bullets": [ "[Markdown version](/en/news/articles/2015/09/14/01/49/pr15105/index.md)", "[Structured JSON version](/en/news/articles/2015/09/14/01/49/pr15105/index.json)", "[Bundle manifest](/en/news/articles/2015/09/14/01/49/pr15105/bundle-manifest.json)", "Published: March 11, 2015", "IMF Executive Board approved an Extended Arrangement under the Extended Fund Facility (EFF) of SDR 12.348 billion (about $17.5 billion, €15.5 billion) for Ukraine.", "The arrangement is four-year in duration.", "The program replaces a Stand-By Arrangement with an Extended Arrangement under the EFF to reflect Ukraine’s more protracted balance-of-payments needs.", "Expected benefits of the Extended Arrangement as stated:", "Support immediate economic stabilization in Ukraine.", "Support a set of deep and wide-ranging policy reforms aimed at restoring robust growth over the medium term and improving living standards for the Ukrainian people.", "The program builds on actions taken under the earlier Stand-By Arrangement and is supported by additional resources from the international community.", "Many key measures are front-loaded under the new program, including:", "The Ukrainian government has taken actions toward consultations with the holders of their public sector debt with a view to improving medium-term sustainability.", "The Ukrainian authorities have:", "To cushion the impact of adjustment, especially for the poorest groups, measures are being taken to strengthen and better target the social safety net.", "The program is ambitious and involves risks, notably those stemming from the conflict in the east of the country.", "The cease-fire agreed last month in Minsk seems to be largely holding for now, offering hope that a further loss of life can be avoided.", "With continued firm implementation, the Managing Director stated there is a \"reasonably strong prospect of success.\"", "Press Release No. 15/105", "Date: March 11, 2015", "IMF Communications Department, Media Relations — E-mail: media@imf.org, Phone: 202-623-7100", "[Pr15105apdf (PDF)](/-/media/websites/imf/imported/external/arabic/np/sec/pr/2015/pr15105apdf.pdf){rel=\"external\" type=\"application/pdf\"}", "[Pr15105cpdf (PDF)](/-/media/websites/imf/imported/external/chinese/np/sec/pr/2015/pr15105cpdf.pdf){rel=\"external\" type=\"application/pdf\"}", "[Pr15105jpdf (PDF)](/-/media/websites/imf/imported/external/japanese/np/sec/pr/2015/pr15105jpdf.pdf){rel=\"external\" type=\"application/pdf\"}", "[Pr15105rpdf (PDF)](/-/media/websites/imf/imported/external/russian/np/sec/pr/2015/pr15105rpdf.pdf){rel=\"external\" type=\"application/pdf\"}", "[Ukraine and the IMF](http://www.imf.org/external/country/UKR/index.htm)", "[Germany and the IMF](http://www.imf.org/external/country/DEU/index.htm)", "[Press Releases](https://www.imf.org/en/news/searchnews)", "[PRESS CENTER](http://presscenter.imf.org/)", "[https://www.imf.org/en/home](https://www.imf.org/en/home)" ], "related": [ { "title": "Pr15105apdf", "role": "document", "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported/external/arabic/np/sec/pr/2015/pr15105apdf.pdf", "binary": { "path": "/-/media/websites/imf/imported/external/arabic/np/sec/pr/2015/pr15105apdf.pdf", "mime": "application/pdf" } }, { "title": "Pr15105cpdf", "role": "document", "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported/external/chinese/np/sec/pr/2015/pr15105cpdf.pdf", "binary": { "path": "/-/media/websites/imf/imported/external/chinese/np/sec/pr/2015/pr15105cpdf.pdf", "mime": "application/pdf" } }, { "title": "Pr15105jpdf", "role": "document", "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported/external/japanese/np/sec/pr/2015/pr15105jpdf.pdf", "binary": { "path": "/-/media/websites/imf/imported/external/japanese/np/sec/pr/2015/pr15105jpdf.pdf", "mime": "application/pdf" } }, { "title": "Pr15105rpdf", "role": "document", "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported/external/russian/np/sec/pr/2015/pr15105rpdf.pdf", "binary": { "path": "/-/media/websites/imf/imported/external/russian/np/sec/pr/2015/pr15105rpdf.pdf", "mime": "application/pdf" } } ], "alternates": { "markdown": "/en/news/articles/2015/09/14/01/49/pr15105/index.md", "json": "/en/news/articles/2015/09/14/01/49/pr15105/index.json", "bundleManifest": "/en/news/articles/2015/09/14/01/49/pr15105/bundle-manifest.json" }, "generatedAtUtc": "2026-09-26T21:10:56.602Z" }