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.
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.