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).

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"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.

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"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.