Ukraine increases IMF quota

Source : 112 Ukraine

IMF quota will increase up to $2796.4 million
14:27, 25 February 2016


Ukraine will increase quota in the International Monetary Fund by 639.8 million special drawing rights (SDR) – up to 2 011.8 SDR, informs press service of the Cabinet of Ministers of Ukraine.

After the quotas of IMF member-states are reviewed, Ukraine will receive confirmation about the increase of its quota in the Fund.

“Thus, Ukraine’s current quota will be increased by 639.8 million SDRs – up to 2011.8 SDRs, which amounts to nearly $2796.4 million. This step will help reduce Ukraine’s expenses for using IMF funds. Moreover, this influences the amount of financing a member-state is eligible to receive from the IMF”, - it is said in the Cabinet’s report.

Ministry of Finance of Ukraine and the National Bank were ordered to conduct all domestic procedures necessary to increase the quota.

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