Ukraine is asking the IMF for emergency assistance until the end of the year - old loans have already been used up
The Minister of Development of Communities and Territories of Ukraine Alexey Chernyshev met with the Director of the IMF European Department Alfred Kammer and the head of the IMF mission in Ukraine Ivanna Vladkova-Hollar on the issue of exploring the possibility of issuing new loans to the country.
This is reported on the website of the Ministry of Development of Communities and Territories of Ukraine.
“Ukraine needs a new comprehensive IMF program. This should significantly increase the financial stability of the state. When it comes to assistance, the key issues for us are urgency, efficiency and maximum transparency. In addition, we expect emergency assistance (RFI) by the end of this year,” Chernyshev said.
Ukraine also submitted an official proposal to the IMF for a new special financial support program, as stated by Prime Minister Denis Shmygal during an online conversation with German Finance Minister Christian Lindner.
“Last Friday, a letter was sent to the chairman of the Foundation. We expect to receive appropriate assistance from the IMF in November-December of this year,” the Ukrainian government said.
Germany, according to German Finance Minister Christian Lindner, supports the procedures initiated by the Ukrainian government to defer debt payments and efforts towards creating a special program with the IMF.
Chairman of the National Bank of Ukraine Kirill Shevchenko also announced that Ukraine hopes to sign a new large-scale program with the International Monetary Fund by the end of the year.
As the NBU noted, consultations between Ukraine and the IMF are currently ongoing on a new program, the volume of financing for which could amount to up to $20 billion.
The current 18-month IMF program with Ukraine in the Stand-By format with the possibility of access to $5 billion was approved on June 9, 2020. The loan program was later extended until the end of June 2022.
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