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Ukraine to receive second tranche from IMF today

Source : 112 Ukraine

The fund is expected to provide about $ 700 million
17:36, 24 November 2021

The International Monetary Fund (IMF)
Reuters

Ukraine is to receive the second tranche of a loan from the International Monetary Fund in the amount of about $ 700 million today. This was stated by the Prime Minister of Ukraine Denys Shmyhal during a government meeting.

"On November 22, the IMF Board of Directors approved the allocation of the second tranche for Ukraine in the amount of almost $ 700 million. Today, these funds are to go to Ukraine," Shmyhal said.

Related: Memorandum with IMF provides for population support during period of world gas prices increase

On November 23, it was reported that the Ministry of Finance expects several tranches of the IMF loan until June 2022. These funds are already included in the draft state budget.

In June 2020, the IMF approved a stand-by program for Kyiv totaling about $ 5 billion, immediately allocating the first tranche of financing in the amount of $ 2.1 billion. Four reviews of the implementation of the Program conditions were planned to allocate the other four tranches. However, the agreed schedule was violated and funding was suspended due to Ukraine's failure to meet a number of obligations.

Related: IMF to consider second stand-by tranche for Ukraine on November 22

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