Economy 2022-06-15T07:17:13+03:00
Ukrainian news
Ukraine Pays USD 368 Million To IMF Under stand by Program

Ukraine Pays USD 368 Million To IMF Under stand by Program

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IMF, payment, stand by

Ukraine has paid 257.25 million special drawing rights or USD 368 million to the International Monetary Fund (IMF).

Ukrainian News Agency learnt this from the press service of the National Bank of Ukraine.

According to the central bank, the payment was made on May 4 under the stand by arrangement program of April 2014.

The next payment is scheduled for June 1 and will make 114.333 million special drawing rights.

As Ukrainian News Agency earlier reported, in late April 2014, the IMF approved a credit program for Ukraine for USD 17.01 billion, and in early May, provided the first tranche of the stand by loan of USD 3.19 billion.

On March 11, 2015, the Board of Directors of the International Monetary Fund approved the allocation of USD 17.5 billion to Ukraine for a 4-year EFF (Extended Fund Facility) program instead of the stand by program.

The IMF decided to change the previous "stand by" program to the "enhanced financing mechanism" due to the longer-term need for Ukraine's balance of payments.

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