PM Shmyhal: Ukraine expects to receive first tranche from IMF in early June

PM Shmyhal: Ukraine expects to receive first tranche from IMF in early June

Ukrinform
Ukraine expects to receive the first tranche within the agreed Stand-By Arrangement with the IMF in early June.

"We expect the signing of the agreement on the first tranche. The arrangement is designed for 18 months, loan [is provided] for five years. The sum is USD 5 billion. And this is a Stand-By Arrangement loan on fairly simplified terms, which will allow us to move calmly in overcoming the consequences of coronavirus crisis. We expect to receive the first tranche worth $1.9 billion on June 5-6. Then we expect to get $1.6 billion in autumn, and $1.5 billion already next year. This is a kind of support," Prime Minister of Ukraine Denys Shmyhal said on the evening air of the Ukrayina TV channel on Friday, an Ukrinform correspondent reported.

On Friday, President of Ukraine Volodymyr Zelensky had a phone conversation with IMF Managing Director Kristalina Georgieva. She said that the IMF Board would approve the first tranche of the agreed stand-by arrangement for the next 18 months in the near future. The interlocutors agreed that the transition to the stand-by arrangement greatly facilitates the allocation of financial support during the pandemic.

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