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Economy 2020-07-06T04:03:41+03:00
Ukrainian news
IMF Approves New Credit Program For Ukraine Worth USD 5 Billion With 1st Tranche Worth USD 2.1 Billion

IMF Approves New Credit Program For Ukraine Worth USD 5 Billion With 1st Tranche Worth USD 2.1 Billion

IMF, Ukraine, tranche, loan, international monetary fund, credit program

On Tuesday, June 9, the International Monetary Fund (IMF) has approved a new credit program for Ukraine worth USD 5 billion with the first tranche of USD 2.1 billion.

The IMF has said this in a statement, Ukrainian News Agency reports.

The program is scheduled for the period of 18 months.

The funds will ensure social protection of the population, allow taking measures to prevent the spread of the coronavirus infection in Ukraine, and ensure timely payment of debt obligations.

The stand-by program is focused on a key task to support macroeconomic and financial stability, and cover the fields of fiscal policy, monetary policy, financial sector policy, energy, and anti-corruption policy.

The IMF's program will also provide an opportunity of attracting financial support from a number of international partners, in particular, the World Bank and the European Union.

After finalization of internal procedures in the IMF related to approval of the program, the texts of the letter of intent and the Memorandum on economic and financial policy will be published on the official websites of the IMF, Ministry of Finance of Ukraine, and the National Bank of Ukraine.

As Ukrainian News Agency earlier reported, on May 20, Finance Minister, Serhii Marchenko, said he was expecting the first tranche from the IMF before late May.


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