President believes IMF’s first tranche to help overcome COVID-19 challenges

President believes IMF’s first tranche to help overcome COVID-19 challenges

Ukrinform
Ukrainian President Volodymyr Zelensky believes that an 18-month Stand-By Arrangement for Ukraine, approved by the IMF Executive Board, will help the country overcome COVID-19 pandemic challenges.

"Ukraine will shortly receive the first tranche of $2.1 bln from the IMF. That's $200 mln more than originally planned. The new program funding will help us to overcome the challenges caused by COVID-19. The IMF has proven itself to be a reliable partner to a friend in need," the president wrote on Twitter.

On June 9, the IMF Executive Board approved an 18-month Stand-By Arrangement for Ukraine, with total access of about $5 billion. The approval of the SBA enables the immediate disbursement of about $2.1 billion.

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