Governor of the National Bank of Ukraine (NBU) Yakiv Smolii says Ukraine has received US$2.1 billion of the first tranche from the International Monetary Fund (IMF).
"Officially: Ukraine has just received $2.1bn of the 1st tranche from the IMF. Funds do not come directly from the IMF, but from the member countries. Since yesterday, the funds were coming in installments in $, €, ¥, £ and yuan (currencies in the SDR). The process is now over," he wrote on Twitter on June 12, 2020.
"Funds from the IMF, entering the state budget, will help the state to overcome the coronavirus and ensure macro-financial stability. Meanwhile, the 1st tranche together with the related financial assistance from the EU has already increased international reserves to $28.7bn," Smolii tweeted.
As UNIAN reported earlier, the IMF Executive Board on June 9 approved an 18-month Stand-By Arrangement (SBA) for Ukraine, with access equivalent to SDR 3.6 billion (about US$5 billion, or 179% of quota). The first disbursement is worth US$2.1 billion.