In 2020, Ukraine expects to receive two tranches from IMF, - Minister of Finances

Source : 112 Ukraine

Total amount of tranches could amount to $ 3.5 billion
23:10, 27 April 2020

Serhiy Marchenko
Open source

Minister of Finances of Ukraine Serhiy Marchenko said that this year, the government is counting on two tranches from the International Monetary Fund for a total of $ 3.5 billion.

He said this during an online meeting of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, as RBC-Ukraine reports.

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"By the end of the year, $ 3.5 billion is expected. At the moment, we are talking about two tranches of $ 1.75 billion," the Minister said.

He also noted that the IMF’s first tranche will be transferred to Ukraine after approval by the Board of Directors of the Fund, which is possible only after the adoption of a banking law by the Verkhovna Rada. Thus, the Ukrainian market will be safe from the return of bankrupt or nationalized banks.

In addition, according to the Minister, this year's sum is still a matter of discussion and Ukraine wants to increase it. The total amount under the EFF program is $8 billion.

Serhiy Marchenko said that Ukraine did not ask the IMF for the money that the Fund allocates for emergency assistance to countries because of the coronavirus pandemic.

As we reported before, former President of Georgia and ex-Chairman of Odesa Regional State Administration Mikheil Saakashvili said that President of Ukraine Volodymyr Zelensky had instructed him to negotiate with the International Monetary Fund.

Related: Different stages of lockdown exit can begin simultaneously, - Ukraine's PM

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