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International Monetary Fund transferred over $ 2.7 billion to Ukraine - NBU

Ukraine / Business and Finance

The decision on the distribution of these funds will be made in accordance with the current legislation, the Cabinet of Ministers of Ukraine said.

International Monetary Fund transferred over $ 2.7 billion to Ukraine - NBU

In the framework of the largest-ever distribution of special drawing rights (SDRs) to the participating countries, the International Monetary Fund transferred to Ukraine more than 2.7 billion US dollars in equivalent.

“The distribution of SDRs will help enhance the stability and stability of the world economy, provide additional liquidity to the global economy, and replenish the foreign exchange reserves of 190 IMF member countries. The funds received should be used by the countries to support the economy and combat the consequences of the coronavirus crisis, ”the National Bank of Ukraine noted.

The final decision on the use of Ukraine's funds will be made by the Ministry of Finance as the country's financial agent in relations with the IMF.

Recall that on August 2, 2021, the IMF Board of Governors approved the allocation of SDRs in the amount of USD 650 billion. The money is distributed in proportion to each country's quota in the IMF: Ukraine's share is 0.42% or 1.9 billion SDRs.

Ukraine continues to cooperate with the IMF and is taking measures to implement reforms and fulfill its obligations within the framework of the Stand-by program jointly with the IMF. Today, the Ministry of Finance is working on completing the first revision of the current program and expects the IMF mission in September this year.

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