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HomePoliticsUkraine to receive $750 mln in IMF assistance, PM says

Ukraine to receive $750 mln in IMF assistance, PM says

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Ukraine anticipates the next share of the assistance fund worth 750 million dollars from the International Monetary Fund in December.

Also, PM Denys Shmygal said in a news conference they will receive 600 million euros from the European Union in November.

He said Ukraine had completed all the current assistance program conditions of the IMF.

Ukraine is expecting an IMF mission from Saturday for further talks, as it signed a 5-billion-dollar IMF program last year.

However, the IMF effectively froze the loans due to concerns about reforms.

Shmygal said that this mission will actually be the final one in preparation for the issuance of the next tranche.

“We have fulfilled all the conditions and benchmarks that were in the agreement with the IMF,” he said.

“Therefore, we expect a positive completion of this mission and expect that approximately in December,” he added.

The IMF said it will reestablish the review mission in September, however, it did not specify an exact date.

“The mission will work with Ukraine on the remaining issues where  we need an agreement  to complete the review,” an IMF spokesperson said.

Ukraine, which is one of the poorest European countries, suffered from a recession due to the Covid-19 pandemic last year.

Moreover, Ukraine had received 2.1 billion dollars last year from the IMF program.

However, it failed repeatedly to get more assistance and has always modified its estimates of another tranche disbursement.

Additionally, Shmygal said the government has good relations with the central bank, and the latter’s decisions are “Well-grounded.”

Last week, the central bank raised interest rates for the fourth time this year to solve the inflation issue.

The ex-governer of the central bank resigned last year because of “political meddling.”

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