°
Ashburn

Ukraine received the first tranche from the IMF

Kyiv received from the International monetary Fund the first tranche in the amount of 2.1 billion dollars, said the head of the National Bank of Ukraine Yakov Smoliy.

"Did you know that the funds do not come directly from the IMF, and from country members of the Fund? Since yesterday, the funds come in dollars, euros, yen, pounds and yuan, the currencies included in the SDR (special drawing rights — a calculation unit of the IMF. — Approx. ed.). Now the process is complete," wrote Smoliy on Twitter.

The IMF Board of governors this week approved a new program to support Ukraine in 18 months with a total amount of five billion dollars. It focuses on reducing the negative consequences of the crisis, support for the independence of the Central Bank and flexible exchange rate, and on maintaining financial stability after the process of Bank rehabilitation.

The remaining funds will be transferred four tranches.