IMF approves new USD 5bn loan for Ukraine

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Open source

The International Monetary Fund (IMF) and the Ukrainian authorities have come to a preliminary agreement on a new stand-by USD 5 billion loan program for a period of 18 months. It will soon be approved by the IMF Board of Directors. This was reported by the head of the Ukrainian representative office of the IMF, Hromadske reports.

The new stand-by program will provide access to SDR 3.6 billion (Special Drawing Right, equivalent to USD 5 billion – ed.) and should contribute to the balance of payments and support the budget to help the Ukrainian government cope with the consequences of the COVID-19 pandemic.

The IMF program will allow Ukraine to receive financing from a number of other international financial organizations and governments of other countries.

Saakashvili: Ukraine obliged to cooperate with IMF, but should refuse from IMF loans in future.

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