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Zelensky speaks on first IMF tranche for Ukraine, praises Fund's support

Source : 112 Ukraine

It will amount to 2.1 billion dollars, which is 200 million dollars more than it was initially expected
12:56, 10 June 2020

President of Ukraine Volodymyr Zelensky
Official website of the President of Ukraine

The first tranche that Ukraine will receive from the IMF under the Stand-By program will amount to 2.1 billion dollars, which is 200 million dollars more than it was initially expected. This was emphasized by President of Ukraine Volodymyr Zelensky on his Twitter page.

"Ukraine will receive the first tranche from the IMF in the amount of 2.1 billion dollars. This is 200 million dollars more than it was originally planned," Zelensky said.

He noted that the new IMF loan program would help Ukraine overcome the challenges related to the COVID-19. Zelensky also stated that the IMF remained a reliable partner in difficult times.

Related: IMF loan to let Ukraine cover up for budget deficit, - Finance Minister

As we reported earlier, the Executory Board of the International Monetary Fund has approved the 18-month-long stand-by funding program for Ukraine. The Ukrainian government will, thus, get access to 3.6 billion SDR (about five billion dollars).

The new deal replaces the SBA program, that was approved in December 2018; it was supposed to support the Ukrainian economy due to the presidential and parliamentary elections in this country.

Related: IMF approves 18-month-long stand-by funding programme for Ukraine

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