KIEV, July 29 – Deputy Prime Minister Sergiy Tyhypko said he is convinced that the International Monetary Fund Stand-By Arrangement approved for Ukraine will boost the country's international sovereign ratings 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 Tyhypko.