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Ukraine to pay IMF over $1.8 billion in 2019

The largest payment is scheduled for September
14:06, 4 January 2019

Open source

Ukraine has to pay over $1.8 billion to the IMF in 2019, as the press office of the IMF reported, quoted by Ukrainian News agency.

According to the schedule, Ukraine has to pay 1 325,476 million special drawing rights (SDR) this year. It equals approximately $1.8 billion, according to the rate of Ukraine’s National Bank.

Related: IMF publishes text of Memorandum with Ukraine

The first payment is scheduled for February 1; it will be 47.1 million SDR, and another part will make 257.25 million SDR, which Ukraine has to pay on February 5.

The largest payment is scheduled for September. On September 3, Ukraine will pay 114.3 million SDR and 295.5 SDR – on September 13.

Previously, the World Bank decided to provide Ukraine financial guarantees worth 750 million U.S. dollars.

Related: Deutsche Bank loans Ukraine 350 million Euros

Recently, Ukraine received the first tranche by the new cooperation program with the IMF under conditions of the Stand-By Arrangement (SBA), which the IMF Council adopted on December 18, 2018. 
The credit program for Ukraine in the amount of $17.1 billion was approved by the IMF in late April 2014, and the first tranche of Stand-By Arrangement loan in the amount of $ 3.19 billion was granted in early May. 

In March 2015, the Board of Directors of the International Monetary Fund approved the allocation of $ 17.5 billion to Ukraine under the 4-year EFF (Extended Fund Facility) program instead of the SBA program. 

Related: Most corrupted Ukrainian MPs who cheat on banks and loans

The SBA program has been replaced by the Extended Fund Facility due to the longer need of the balance of payments of Ukraine. 

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