Ukrainian authorities keep waiting for new tranche from IMF

Head of the National Bank of Ukraine Kyrylo Shevchenko believes that Kiev can still count on a $2.7bn loan from the International Monetary Fund (IMF)

According to Shevchenko, Ukraine may receive a loan under the Fund’s new initiative to issue additional special drawing rights.

“We hope that Ukraine will be able to get additional financing under this initiative … The last time the Fund did such an operation was in 2009. It was a reaction to the crisis. Such an IMF initiative could be a positive factor for Ukraine”, –  the NBU head said.

However, earlier IMF Resident Representative in Ukraine Joost Ljungmann said that the state budget deficit in Ukraine should return to the pre-depression level in order to “ensure confidence in the country’s economy. He also stressed that “it is too early to predict financial assistance from the IMF. As of 2021, the Ukrainian state budget deficit is 246.6bn hryvnyas (about 8.8bn dollars).

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