IMF chief elaborates on 'constructive call' with President Zelensky

REUTERS

Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has announced she has had a "constructive call" with Ukrainian President Volodymyr Zelensky.

"Constructive call with President Zelensky on IMF program implementation, central bank independence and anti-corruption efforts. Full agreement on actions needed prior to program review," she tweeted on November 17.

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Ukraine-IMF cooperation

• On June 9, 2020, the IMF's Executive Board adopted an 18-month Stand-By Arrangement (SBA) for Ukraine with funding equivalent to SDR 3.6 billion (about US$5 billion) aimed at helping Ukraine overcome the consequences of the COVID-19 pandemic.
• On June 12, 2020, Ukraine received the first disbursement from the IMF loan under the new 18-month SBA between Ukraine and the Fund in the amount of US$2.1 billion.
• On November 17, 2020, President Zelensky announced Ukraine had implemented all the structural benchmarks stipulated in the cooperation program with the IMF.
• The Finance Ministry expects to receive the second tranche under the new program between Ukraine and the IMF by the end of this year.