Ukraine and the international monetary Fund (IMF) agreed on a working level on the standby loan worth $ 5 billion. This is stated in a statement of the Fund, reports TASS.
According to the statement, a credit of 18 months will open the Kiev access to SDR 3.6 billion (artificial backup and means of payment). “[It] is aimed at providing balance of payments and budget support to help the authorities to combat the effects of shock from COVID-19”, — said the head of the negotiating team from the IMF Ivanna Official of gollar.
it is Expected that this decision will ensure Ukraine’s readiness to return to economic growth and to resume the broader efforts to reform, when the crisis is over. It will also facilitate the mobilization of additional bilateral and multilateral financial support.
the Agreement will be considered by the management of the Fund in the coming weeks.
In December of 2019, it was reported that the IMF will give Ukraine a loan of 5.5 billion U.S. dollars for a period of three years. The authorities have fulfilled all the conditions for receiving support, including they opened the market of agricultural land and forbidden to return oligarch Igor Kolomoisky nationalized Privat.
