09 July 2021, Friday, 18:29 233

IMF Approves Distribution Of USD 650 Billion, Of Which Ukraine May Receive USD 2.7 Billion

Редактор: Daria Zubkova

The International Monetary Fund has approved the distribution of USD 650 billion in borrowing, of which Ukraine can receive about USD 2.7 billion.

Vladyslav Rashkovan, Deputy Executive Director from Ukraine at the IMF, announced this on Facebook, Ukrainian News Agency reports.

"Last night, the IMF Board of Directors supported SDR allocations in the amount of USD 650 billion, of which Ukraine will receive about USD 2.7 billion in the near future," he wrote.

At that, Rashkovan added that, in general, this is a very positive step by the IMF, including for Ukraine, as this will help the Ukrainian government to calmly manage public finances.

As Ukrainian News Agency earlier reported, the International Monetary Fund is waiting for proposals from Ukraine to continue negotiations.

In the period from December 21 to 23 and from January 11 to February 12, IMF specialists discussed with representatives of the Ukrainian authorities the progress in the implementation of measures and reforms, which are part of the government's action program supported by the stand by agreement.

After that, IMF Resident Representative in Ukraine Gosta Ljungman said that more progress is needed in reforms in favor of completing the first revision of the program of cooperation with Ukraine.

In early March, Prime Minister Denys Shmyhal named five key points for continuing cooperation with the International Monetary Fund: ending a heating season with a fixed gas price, the approval of macro indicators for 2022-2023, and three key issues - a judicial reform (the law on the HCPJ), the law on strengthening the criminal liability for unfair declaration and the bill on the NACB.