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IMF mission might visit Ukraine in July-August, - Minister of Finance

Source : 112 Ukraine

The first tranche of funds from the IMF received at the budget of Ukraine
16:27, 13 June 2020

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The mission of the International Monetary Fund might visit Ukraine in July-August. This was announced by the Minister of Finance Serhiy Marchenko, Interfax-Ukraine reports.

“We hope that we will determine the arrival time of the mission in the near future. It may be July-August,” Marchenko said.

On June 10, the IMF Board of Directors agreed on a new loan program for Ukraine in the amount of $ 5 billion and a term of 1.5 years. The first tranche of the fund should be $ 2.1 billion (which is $ 200 million more than previously expected).

After the allocation of the first tranche of $ 2.1 billion, four program revisions are planned - based on the economic results of June, September and December 2020, as well as the results of June 2021. These reviews will be completed on September 1 and December 1, 2020, as well as May 15 and October 15, 2021, respectively.

Related: Media reports on coronavirus outbreak in President’s Office: Demchenko, Reznikov infected

The funds of the IMF were received at the budget of Ukraine as Head of the National Bank of Ukraine Yakiv Smoliy reported on Twitter.

“Ukraine has just received $2.1 billion of the tranche from the IMF. Were you aware that the funds come not from the IMF directly but from the countries-members of the Fund? Since yesterday, the funds were transferred in dollars, euros, yens, pounds and yuans – currencies entering the SDS. The process is finished at the moment,” Smoliy wrote.

According to him, the first tranche along with the cash-flows of the financial aid tied with the EU increased the international reserves up to $28.7 billion.

Related: Key questions about IMF-Ukraine agreement

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