PM Shmyhal: Ukraine awaiting IMF mission, second tranche under SBA

PM Shmyhal: Ukraine awaiting IMF mission, second tranche under SBA

Ukrinform
Ukraine is awaiting the announcement of start of the IMF mission and disbursement of the second tranche under the Stand-By Arrangement in the near future.

"We are waiting for the announcement of launch of the International Monetary Fund's mission to Ukraine in the near future. This will give us an opportunity to expect to receive the second tranche under the Stand-By Arrangement in the near future," Prime Minister of Ukraine Denys Shmyhal said at the first annual international conference organized by UkraineInvest, an Ukrinform correspondent reports.

He reminded that in June Ukraine and the EU signed the Memorandum of Understanding and the Loan Agreement on provision of "exclusive" macro-financial assistance from the European Union totaling EUR 1.2 billion. The macro-financial assistance program will last 12 months and will disburse two tranches worth EUR 600 million each. It is assumed that the allocation of the first tranche is possible immediately after the Memorandum of Understanding and the Loan Agreement enter into force.

"This Wednesday, the EU informed us about the disbursement of EUR 600 million," Shmyhal added.

The Prime Minister stressed that the authorities, working to support business and restore economic growth, managed to prepare the necessary foundation for economic development. The work was carried out in several key areas. "First of all, cooperation with the IMF, the World Bank, the European Union and other financial partners is crucial to Ukraine's confident emerging from the crisis," he said.

Earlier, Finance Minister Serhiy Marchenko stated that Ukraine still has a chance to receive a tranche from IMF by the end of 2020. However, the funds are most likely to arrive next year.

On November 26, the Ministry of Finance of Ukraine announced the completion of negotiations with the International Monetary Fund on the parameters of the draft state budget for 2021.

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