Photo: aseanop.com
IMF allocated a tranche of a loan for $ 700 million to Ukraine
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The IMF Board of Directors considered the issue of revising the stand by program and allocating a tranche to Ukraine.
The Board of Directors of the International Monetary Fund decided to revise the Stand-By program with Ukraine. The fund is also disbursing a tranche of a loan of 500 million Special Drawing Rights (SDR), which is about $ 700 million. This was announced on Monday, November 22, by the President of Ukraine Volodymyr Zelensky on his page in Twitter.
“I am grateful to the IMF Board of Directors for the positive decision on the completion of the revision of the stand-by program, which provides for the allocation of a tranche of about $ 700 million to Ukraine. We will direct these funds to support the financial system and fight the consequences of COVID19. The IMF program will continue,” Zelensky wrote.
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twitter.com/ZelenskyyUa
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In turn, the Prime Minister of Ukraine Denis Shmygal welcomed the decision of the Fund, stressing that the positive assessment of international partners demonstrates the successful movement of Ukraine in the implementation of reforms.
“By the measures that Ukraine has taken in terms of reforming the judicial system, continuing the reform in the financial sector, we have confirmed Ukraine’s status as a reliable and responsible partner. The IMF funds will be used to maintain the stability of the financial system and combat the consequences of COVID-19,” the head of government stressed …
In addition, the IMF extended the Stand-By program, which ends in December 2021, for another six months.
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