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Ukraine to receive $4 billion from IMF after approval of banking law

Source : 112 Ukraine

The IMF has filed the official letter
18:50, 1 April 2020

www.5.ua

The International Monetary Fund (IMF) might provide Ukraine with the first tranche in the sum of $4 billion right after the adoption of the law on the banking by the Verkhovna Rada, as Interfax reported citing Head of the parliamentary committee on finance, tax, and customs policy Danylo Hetmantsev.

“We have received the official letter, the statement from the IMF that there two conditions, if they are fulfilled, the funds will be transferred to Ukraine, to the state budget. According to our calculations, it should be about $4 billion of loan,” Hetmantsev reported.

Related: Zelensky warns of default if parliament does not vote on laws necessary for IMF loans

According to him, the money from the IMF will go the Stabilization Fund of the state budget.

On March 30, the Verkhovna Rada of Ukraine approved the bill № 3260 "On amendments to the legislative acts of Ukraine on improving some mechanisms for regulation of banking activities". 267 MPs voted in favor.

Besides, the Verkhovna Rada adopted a committee bill on the opening of the agricultural land market No. 2178-10. 259 MPs voted to pass the bill.

 

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