Zelensky explains IMF's refusal to provide Ukraine with the next tranche

Source : 112 Ukraine

The International Monetary Fund has refused to provide Ukraine with a $700 million loan tranche, as the Ukrainian government has to pass a number of laws
14:05, 22 February 2021

President Volodymyr Zelensky

The International Monetary Fund has refused to provide Ukraine with a $700 million loan tranche for a number of reasons. In particular, the Ukrainian authorities must adopt a number of laws. This was stated by President Volodymyr Zelensky at 'Ukraine 30. Infrastructure' forum.

"We still have two tranches. There are three tranches in this program: 700 million and another 700 million. Now they had to name the date when the second tranche of another 700 million will be allocated. The program has not been implemented due to several things," Zelensky said.

Among the reasons for non-implementation of the program, the president named a number of laws that the government must pass. In particular, it is the law on the Supreme Council of Justice. The relevant bill, as well as the bill on NABU has already been registered, he said.

"There are a few more economic laws we need to make. Such was an agreement," the president said.

Related: Ukraine, IMF negotiated on gas price, PM claims necessity to find middle ground

Zelensky also added that Ukraine is in the IMF program, by which it has already received $2.1 billion.

The IMF mission worked in Ukraine from December 21 to 23, 2020 and from January 11 to February 12, 2021. As a result, the parties did not agree to review the Stand-by program, which would lead to the allocation of the next tranche.

Related: Ukraine’s talks with IMF on cooperation, financing to continue, - official

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