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Ukraine wants funding from IMF to get raised up to $10 billion, - media

Source : 112 Ukraine

Yes, Ukraine will ask for 5.5 billion dollars under a three-year program and 4.5 billion dollars – as assistance in the fight against coronavirus
16:26, 23 March 2020

Open source

Ukraine may receive increased funding of up to 10 billion dollars from the International Monetary Fund (IMF), which will include 5.5 billion dollars under a three-year program and 4.5 billion dollars – as assistance in the fight against coronavirus. It was reported by EPravda with reference to the interlocutor at the National Bank of Ukraine.

The IMF has recently announced that countries would be able to use additional support tools in order to fight the coronavirus.

These are the Rapid Credit Facility (RCF) and the Rapid Financing Instrument (RFI). It should be noted that Iraq is one of the first to get aid from the Fund in the amount of 5.4 billion dollars.

Related: Ukraine's currency rate somewhat stabilized, makes 27.73 UAH per 1 USD

However, according to the newspaper, Ukraine is considering another option - to increase funding under the EFF program to about 10 billion dollars.

"The EFF is a support tool, on which we have reached a preliminary agreement for 5.5 billion dollars. We can increase the volume of this program and give the government, in full or in part, the first, increased from 0.6 to 2-2.5 billion dollars in order to cope with urgent needs that are caused by the coronavirus,” the interlocutor in the NBU stated.

As we reported earlier, such an increase in financial assistance for Ukraine was discussed between President of Ukraine Volodymyr Zelensky and IMF Head Kristalina Georgieva

Related: Ukraine’s MFA looks for sponsors to bring Ukrainians back home

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