The International Monetary Fund has already sent the first tranche of the new stand-by loan program to the accounts of the Government of Ukraine. This was announced by the representative of Ukraine to the IMF Vladyslav Rashkovan on Facebook.
"The IMF Board of Directors has approved a new stand-by program for Ukraine. 18 months. Five billion dollars. All funds are going to the budget. The first tranche of $ 2.1 billion has already been sent to Ukraine - it will be transferred to the accounts of the Government of Ukraine, taking into account the time difference and speed of the movement of funds through international payment systems," he said.
He added that the stand-by program was the first new structural program approved by the IMF on March 26 this year. From March 26 until today, only emergency financing programs have been approved or (in order to provide more funds to the budget to respond to a pandemic) the terms of previously approved programs have been slightly modified.
As we reported earlier, President of Ukraine Volodymyr Zelensky stated that the new IMF loan program would help Ukraine overcome the challenges related to the COVID-19.