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Economy 2020-09-26T04:03:20+03:00
Ukrainian news
NBU Expects IMF Mission In Near Future

NBU Expects IMF Mission In Near Future

IMF, loan, international monetary fund, EFF, funds, IMF Mission

The National Bank of Ukraine (NBU) expects the arrival of a mission of the International Monetary Fund (IMF) to Ukraine in the near future.

The head of the NBU Kyrylo Shevchenko announced this during a press conference, Ukrainian News Agency reports.

"We expect an IMF mission in the near future and plan to receive funds from the IMF by the end of the year," he said.

Shevchenko did not provide other details.

The last time an IMF mission visited Ukraine in November 2019.

As Ukrainian News Agency earlier reported, in late April 2014, the IMF approved a loan program for Ukraine for USD 17.01 billion, and in early May it provided the first tranche of a stand by loan in the amount 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 under the 4-year EFF (Extended Fund Facility) program instead of the stand by program.

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

In October 2018, Ukraine and the IMF agreed on a new stand by program.

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