Ukraine fulfills all conditions for second IMF tranche – Zelensky

Zelensky thanked the creditors for the funds allocated earlier / REUTERS

Ukrainian President Volodymyr Zelensky has said Ukraine fulfilled all the conditions for receiving the second tranche under the new program of cooperation with the International Monetary Fund (IMF).

"We had the first tranche, we expected the second one. There are requirements from the International Monetary Fund. I believe we have done everything. This is my personal view," he said in an interview for the Ukrainian TV channels.

Read alsoChief banker: Delay in fulfillment of obligations to IMF can affect economic recoveryAccording to Zelensky, the domestic economy is in such a state that it simply cannot cope without international loans. He also thanked the creditors for the funds allocated earlier.

Ukraine-IMF cooperation

• On June 9, 2020, the IMF's Executive Board approved an 18-month Stand-By Arrangement 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 of the IMF loan worth US$2.1 billion under the new 18-month cooperation program between Ukraine and the Fund.
• On October 21, 2020, Ukraine's Cabinet of Ministers set up an ad hoc group to coordinate talks with the IMF.