During 2014-2020, Ukraine paid 46.3 million special drawing rights (SDRs) or $ 65.74 million in commission for outstanding tranches in favor of International Monetary Fund (IMF).
This was reported in National Bank of Ukraine (NBU) in response to a request “Economic truth“. This commission (Commitment fee) is stipulated by the terms of cooperation of Ukraine as a borrower with the IMF, its size depends on the amount of loans of each country and the size of its quota.
“In 2020, the amount of the commission was 0.1% per year of the amount of tranches to be received during the year. But the amount of the commission is proportionally reduced and returned by the amount of tranches that were actually received,” the NBU said.
For six years of cooperation on three programs with the IMF, Ukraine paid him $ 61.48 million at the current exchange rate, or SDR 43.3 million:
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under the SB-2014 program, Ukraine received SDR 3.0 billion, the amount of funds paid for the lost tranches amounted to SDR 8.3 million (or 0.28% of the tranches received under the program)
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under the EFF-2015 program, Ukraine received 6.2 billion SDR, the amount of funds paid for the lost tranches amounted to 31.1 million SDR (or 0.50% of the received tranches under the program)
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Under the SB-2018 program, Ukraine received SDR 1.0 billion, the amount of funds paid for the lost tranches amounted to SDR 3.9 million (or 0.39% of the tranches received under the program).
In addition, under the stand-by 2020 program, Ukraine transferred another 5.2 million SDRs to the IMF. Of these, the fund returned 2.3 million SDRs, so our country actually paid the creditor $ 4.26 million. It is noted that the last payment can still be returned if Ukraine receives all the tranches provided for by the current credit program.
“If in 2021 Ukraine receives other tranches from the IMF, the Fund will return 3.0 million SDRs paid by the National Bank in 2020,” the National Bank explained.
As reported OBOZREVATEL, Prime Minister Denis Shmygal said, will Ukraine be able to abandon the IMF and what advice he gets from the lender.
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