Kiev wants to ask the International Monetary Fund to increase the volume of the program agreed at the end of 2019 by $ 4.5 billion and spend this money to overcome the consequences of an outbreak of coronavirus infection.
Ukraine is considering the possibility of asking the International Monetary Fund to increase funding under the EFF program to $ 10 billion, the Economic Truth publication reported March 23, citing sources.
IMF agreed with Ukraine new cooperation program Eff for a period of three years in December 2019. As part of this program, Kiev should receive about $ 5.5 billion. Not a single tranche has yet been allocated.
“Economic Truth” found out that Ukraine wants to get $ 5.5 billion for a three-year program and $ 4.5 billion in assistance to overcome the effects of coronavirus.
On March 4, IMF Managing Director Kristalina Georgieva announced that the Fund had reserved about $ 50 billion to deal with the effects of an outbreak of coronavirus infection. So, the IMF is ready to allocate $ 10 billion to countries with low incomes. The publication notes that for these purposes the Fund has an accelerated lending mechanism (Rapid Credit Facility, RCF) and a quick financing tool (Rapid Financing Instrument, RFI). But Ukraine wants to use another program.
“EFF is a support tool that we understand, according to which preliminary agreement was reached by $ 5.5 billion. You can increase the volume of this program and give the whole tranche, in whole or in part, to the first tranche, increased from $ 0.6 billion to $ 2–2.5 billion, to cover urgent needs in connection with the coronavirus, “said the source of the publication in the National Bank.
According to him, now he is engaged in determining budget parameters for further cooperation with the IMF. Ministry of Finance.
Estimated President’s office, Ukraine needs about $ 4 billion to fight against coronavirus
The IMF called the acceptance of a loan of $ 5.5 billion. bills about the land market and the inability to return nationalized banks to their previous owners.
An outbreak of COVID-19 coronavirus infection began in December 2019 in China. March 11, the World Health Organization announced the spread of coronavirus pandemic.
According to American Johns Hopkins University, on March 24, the total number of infected people in the world exceeded 390 thousand, of which more than 103 thousand recovered, and 17 454 people died. In Ukraine, coronavirus was confirmed in 97 people, three of them died.