Economy 2022-11-15T04:59:30+02:00
Ukrainian news
USD 700 Million Of IMF Tranche Due To Arrive In Ukraine On Wednesday - Shmyhal

USD 700 Million Of IMF Tranche Due To Arrive In Ukraine On Wednesday - Shmyhal

IMF, tranche, international monetary fund, IMF Loan, IMF tranche, IMF program, loan tranche, standby program

The USD 700 million tranche of the International Monetary Fund is due to arrive in Ukraine on Wednesday, November 24.

Prime Minister Denys Shmyhal announced this at a government meeting, Ukrainian News Agency reports.

"Today, these funds are due to arrive in Ukraine," he said.

On November 22, the IMF Board of Directors approved the completion of the first revision of the standby program and the allocation of a tranche of USD 700 million to Ukraine.

Besides, the IMF extended the program until the end of June 2022.

An 18-month standby program with Ukraine with access to 3.6 billion SDRs (about USD 5 billion equivalent) was approved on June 9, 2020 to provide balance of payments and budget support as Ukrainian authorities grapple with the consequences of the COVID-19 pandemic.

The current program ended on December 8 this year.

In August, Ukraine received about USD 2.7 billion from the IMF.

As Ukrainian News Agency earlier reported, Minister of Finance Serhii Marchenko said that USD 700 million allocated to Ukraine by the International Monetary Fund (IMF) would be used to finance the state budget deficit, in particular, to pay pensions, salaries to teachers and doctors, and the fight against the coronavirus.