Ukraine to get next IMF loan in February-March 2021, - PM

Source : 112 Ukraine

Denys Shmygal expects progress in talks with IMF next week
08:05, 18 December 2020

Press-service of the Cabinet of Ministers

Ukraine could get the next loan from the IMF in February or March 2021. Denys Shmygal, the Prime Minister said so in a radio interview.

"We'd like to get it at the latest in February. These are the terms that we're discussing with the IMF, unless there are any surprises again", he said.

Shmygal expects progress in talks between Ukraine and the IMF next week. "We're in good cooperation with the EU; we got the tranche last week", he reiterated.

Related: IMF assesses Ukraine's tax policy

Ukraine received the first tranche from the IMF in June 2020. The tranche (and the EU financial aid) increased the country's international currency reserves to 28.7 billion U.S. dollars.

The IMF allocates funds for Ukraine in the stand-by program, which is accounted for 18 months, with the access to 3.6 billion SDR (that's roughly five billion dollars). 

Last month, the IMF conducted an assessment of Ukraine's tax policy. The relevant report was published on the website of the organization on November 23. "Tax policy in Ukraine is engaged in two fronts at once. On one front, very significant work has been done over the years on the gradual improvement and updating of the tax system; on the other, it questions essential tenets of the existing system, exploring fundamental changes to it," the statement said.

Related: Finance Ministry negotiates with IMF on state budget for 2021

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