Zelensky: The IMF decided to provide Ukraine with a tranche of $ 700 million from the International Monetary Fund (IMF). He wrote about this on his Twitter account.
Zelensky expressed gratitude to the IMF board of directors for the positive decision to complete the revision of the stand-by program. It is noted that the country will receive a tranche of about $ 700 million. The President said that these funds will be used to support the financial system of Ukraine and the fight against the consequences of the coronavirus pandemic. In addition, he stressed that Kiev will continue cooperation with an international organization.
Earlier, the head of the National Bank of Ukraine, Kirill Shevchenko, said that the country expects a tranche from the IMF in the amount of SDR 500 million (special drawing rights, SDR, artificial means of payment of the IMF) or about $ 700 million. “The rest will be in the first and second quarters [2022], the rest of the funds under the program,” the head of the National Bank said.
The IMF Board of Governors approved a new program to support Ukraine for a year and a half with a total volume of $ 5 billion in the summer of 2020 year, Kiev has already received more than two billion. Earlier in October, J.P. Morgan has estimated that Ukraine could receive a tranche of up to $ 1.4 billion in the fourth quarter of 2021. At the same time, it was noted that the IMF can pay a smaller amount, given the distribution of SDR.