"These funds will go to the government's accounts with the National Bank of Ukraine and will increase international reserves," said Kyrylo Shevchenko, head of the National Bank of Ukraine.
We remind you that the IMF has developed a program for Ukraine for 18 months, under which Ukraine must carry out state reforms. On June 9, 2020, the IMF approved $5 billion for Ukraine to finance reforms. The staggered program allows the IMF to analyze Ukraine's progress and regulate further funding. At the end of each stage, the program is reviewed, and a decision is made to send a tranche or cancel the decision.
Further adherence to the terms of the program and positive reforms in Ukraine allows it to receive subsequent aggregate funding in the amount of 1.6 billion SDR (more than $2 billion).
