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Ukraine and the IMF are negotiating additional emergency funding

They are also discussing the continuation of the current cooperation programme

Ukraine and the IMF are negotiating additional emergency funding

The Ukrainian Government is negotiating the continuation of its current cooperation programme with the IMF and has asked the Fund for additional emergency funding, according to the press service of the Ministry of Finance of Ukraine.

“In particular, the parties are examining the options of further financial support for Ukraine, including assistance under the current 2.2 billion USD cooperation programme Stand-by. Furthermore, the Ukrainian Government asked the IMF for additional emergency funding,” reported the press service.

“The IMF assured Ukraine of its support. The Fund’s employees will continue to work closely with the Government of Ukraine to support our country in every possible way,” said the Ministry of Finance.

The IMF also works with the World Bank Group and other partners to increase support for Ukraine.

Earlier, on February 23, the IMF mission in Ukraine started working online. All discussions are held remotely and involve employees from Washington.

The current Stand-by programme was to continue for 18 months, but Ukraine and the IMF agreed to extend it for six more months. As part of the programme, Ukraine is to receive 5 billion USD. Ukraine already received the first tranche of 2.1 billion USD in June 2020. The second 700 million tranche was approved on November 22.

The Ukrainian Minister of Finance, Serhii Marchenko, reckons that Ukraine will receive 2.2 billion USD from the IMF in 2022, which will be provided, after the programme is reviewed, in two tranches, one in March and the other in June.

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