KIEV, March 1 (Xinhua) -- A team of technical experts from the International Monetary Fund (IMF) will visit Ukraine on March 5-13, local media reported on Friday, citing Goesta Ljungman, the IMF Resident Representative in Ukraine.

According to Interfax-Ukraine news agency, Ljungman said that the visit is aimed at discussing economic developments in Ukraine and the progress made towards the implementation of reform measures envisaged by the Stand-By Arrangement (SBA).

In December 2018, the IMF Executive Board approved 14-month SBA for Ukraine worth 2.8 billion in Special Drawing Rights, which is equivalent to about 4 billion U.S. dollars.

The East European country has already received the first tranche of the aid worth 1.4 billion dollars and hopes to get 2.6 billion dollars in two tranches by the end of the current year.

The Ukrainian government said the SBA would be an instrument to ease Ukraine's debt burden, reduce inflation, intensify anti-corruption, tax, and energy reforms and keep Ukraine's sustainable growth during the presidential and parliamentary elections this year.