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IMF denies emergency financial aid to Kiev

Ukraine / Business and Finance

The International Monetary Fund (IMF) refused to allocate a tranche to Kiev as part of the emergency financial assistance program.

IMF denies emergency financial aid to Kiev

The International Monetary Fund will not provide emergency financial assistance to Ukraine to cover the budget deficit. This was announced on the air of the 1 + 1 TV channel by the head of the Ministry of Finance Sergei Marchenko.

According to him, Kiev applied to the IMF with a request to use the Emergency finance tool - emergency financing when the state has serious problems.

"But I will tell you the answer of our partners from the International Monetary Fund:" Dear Ukraine, you have a program, we are ready to cooperate on this program. We are not currently considering Emergency financing for you, ”Marchenko said.

He explained that the IMF made it clear that it will work with Ukraine only within the framework of the existing program and Kiev needs to fulfill its conditions.

The IMF approved a new cooperation program with Kiev in June 2020. It assumes a loan totaling $ 5 billion. Ukraine has already received its first payment of $ 2.1 billion. All five tranches are planned to be completed within 18 months.

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