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.
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.