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Part of aid from IMF will be directed to reserves of National Bank, - Zelensky's adviser

Source : 112 Ukraine

The IMF money will be spent not on current consumption, but on stimulating economic development in the country in the medium and long term
21:15, 7 August 2021

Macroeconomics adviser of the Ukrainian President Volodymyr Zelensky Oleh Ustenko
Open source

Ukraine can direct part of the aid from the International Monetary Fund to the gold and foreign exchange reserves of the National Bank. This was stated by the presidential adviser on economic issues Oleg Ustenko on the air of Ukraine 24, reports RBK-Ukraine.

"Now the discussion continues. But as I understand the situation, part of these funds can be entered into the gold and foreign exchange reserves of the National Bank in order to create an additional safety cushion for the country," Ustenko said.

According to him, part of the funds will be used this year, but a large amount will be used next year. The IMF money will be spent not on current consumption, but on stimulating economic development in the country in the medium and long term.

Related: Belarus intends to stop Lithuania from sending back migrants

On August 2, it became known that the International Monetary Fund approved the allocation of $ 650 billion to help vulnerable countries in solving the problem of growing debt and overcoming the consequences of the Covid-19 pandemic.

Soon, the President's Office announced that Ukraine would receive more than $ 2.7 billion from the International Monetary Fund on the eve of Independence Day.

Related: Vaccinated people can infect other people with Delta strain, - British scientists

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