Ukraine gets $699M as second tranche from IMF – NBU governor

Governor of the National Bank of Ukraine Kyrylo Shevchenko announced this on Facebook, Ukrinform reports.

"Today, Ukraine received the second tranche from the International Monetary Fund under the stand-by program in the amount of SDR 500 million (equivalent to $699 million). These funds will be transferred to the government's accounts with the National Bank of Ukraine and will increase international reserves," he wrote.

Earlier, at a meeting to review the current Stand-By Arrangement for Ukraine, the IMF Executive Board decided to extend the program and allocate a tranche of about $700 million.

President Volodymyr Zelensky thanked the IMF for this decision, noting that the funds will be used to support the financial system and combat the effects of the COVID-19 pandemic.

Prime Minister Denys Shmyhal, in turn, stressed that the IMF's decision to provide this tranche had confirmed Ukraine's status as a reliable and responsible partner.

op