Ukraine’s Finance Ministry negotiates with G7 countries on possible funding

Source : 112 Ukraine

The Finance Minister did not exclude the possibility of the credits from the other countries
16:57, 12 February 2019

112 Agency

Finance Ministry of Ukraine negotiates with G7 countries on the possibility to provide the funding to Ukraine, as Interfax-Ukraine reported citing Finance Minister Oksana Markarova.

“We actively work on the credit, the attraction of the resources from the international financial organizations and potential bilateral lending,” Markarova said.

Concerning the bilateral lending Markarova specified that the department negotiates with G7 countries. At the same time, the minister did not exclude the possibility of the credits from the other countries, which will agree to finance Ukraine.

Related: Life without IMF loans: Three scenarios for Ukraine

The sum of the potential borrowings from the micro-financial organization and G7 countries was not specified. At the same time, she reminded that the total volume of the foreign borrowings is planned at the level of $4 billion.

As we reported, Ukraine expects two tranches from the IMF in 2019 under the stand-by program opened in December last year.

Related: Deutsche Bank loans Ukraine 350 million Euros

Previously, in October 2018, Ukraine and the IMF agreed to implement the stand-by program; Ukraine received the first loan in December 2018.  

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