IMF decision on financing Ukraine evidence of international support for reform course, says vice premier

12:39

Ukrainian Vice Premier Sergiy Tigipko has said he is convinced that the International Monetary Fund (IMF) Stand-By Arrangement approved for Ukraine will boost the country's international sovereignty rating and bring in more foreign investment.

"The program of cooperation with the IMF will promote an increase in Ukraine's international sovereignty rating, which in turn, will lead to a rise in foreign investment in the economy of our state," the cabinet's press service said, citing Tigipko.

Tigipko said that the IMF Executive Board unanimously approved a new Stand-By Arrangement of $15.5 billion for Ukraine, which is evidence of support from the international community for Ukraine's reform course, which is aimed at achieving economic growth of and increasing Ukrainians' standard of living.