Ukraine to get about $2.7B from IMF in August - Rashkovan

According to Ukrinform, Alternative Executive Director at the International Monetary Fund Vladyslav Rashkovan wrote this on his Facebook page.

"On the evening of August 2, IMF governors finally approved by a majority vote the allocation of SDRs equivalent to $650 billion, of which Ukraine will receive more than $ 2.7 billion free of charge and unconditionally," Rashkovan wrote.

He noted that "this is a good gift for Ukraine, and we will receive it ahead of the 30th anniversary of independence."

The IMF Executive Board on July 8 concurred in Georgieva's proposal for a new general SDR allocation equivalent to $650 billion – the largest allocation in the IMF's history – to address the long-term global needs for reserves during the worst crisis since the Great Depression. Georgieva promised to present the new SDR allocation proposal to the IMF's Board of Governors for their consideration and approval. If approved, the SDR allocation is to be completed by the end of August. Given the size of Ukraine's quota (0.42%), the state can receive about $2.73 billion.

op