Economy 2021-09-15T04:07:01+03:00
Ukrainian news
Ukraine Will Receive IMF Tranche Of USD 2.7 Billion On August 23 - Presidential Office

Ukraine Will Receive IMF Tranche Of USD 2.7 Billion On August 23 - Presidential Office

IMF, Ukraine, tranche, President, international monetary fund, Volodymyr Zelenskyy, Presidential Office, Kristalina Georgieva

Ukraine will receive a tranche from the International Monetary Fund (IMF) in the amount of USD 2.7 billion on August 23.

Ukrainian News Agency learned this from a statement on the website of the Presidential Office.

"After a telephone conversation between President Volodymyr Zelenskyy and the Managing Director of the International Monetary Fund Kristalina Georgieva, which took place last week, Ukraine will receive more than USD 2.7 billion from the IMF free of charge and without additional conditions," the statement reads.

At the same time, it is expected that Ukraine will receive a tranche in the amount of more than USD 2.7 billion on August 23.

It is noted that the relevant decision was made by the IMF Board of Governors at the suggestion of Georgieva to help restore the global economy, affected by the coronavirus pandemic.

At the same time, a total of USD 650 billion in special drawing rights (SDRs) will be distributed between the countries.

In an official statement, the IMF notes that this is the largest distribution of SDRs in the history of the fund.

"This will be a good gift for our country for the 30th anniversary of independence. These funds will help overcome the consequences of the coronavirus crisis and stimulate our economy. I am grateful to the IMF and personally to Kristalina Georgieva for this decision," reads the statement citing Zelenskyy's words.

The head of state also noted that Ukraine is working on completing the first revision of the current IMF program and expects a mission in September.

As Ukrainian News Agency earlier reported, in late July, Zelenskyy said that he believes that Ukraine has met all the requirements of the International Monetary Fund (IMF) and is ready to receive the tranche.

Ukraine paid the IMF USD 4 million in interest for undrawn tranches in 2020.


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