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IMF mission starts working in Ukraine: Allocating $700 million is possible

IMF Managing Director Kristalina Georgieva. Photo: IMF Photo/Cory Hancock

IMF Managing Director Kristalina Georgieva. Photo: IMF Photo/Cory Hancock

The IMF Resident Representative in Ukraine Vahram Stepanyan reports that today, on February 23, the Fund's mission on a new (second) review of the Stand-By cooperation program starts working in Ukraine. Online meetings will be held with representatives of the Cabinet of Ministers, the NBU, and the Office of the President.

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Recall that, based on the results of the second review, it is expected to receive the third loan tranche in the amount of $700 million.

In November 2021, the IMF completed the first revision and allocated a second tranche of $700 million to Ukraine. In addition, the Fund extended the current program for another six months—until June 2022.

In recent weeks, the Ukrainian authorities have been able to obtain financial assistance or loans from the European Union (€1.2 billion), France (€1.2 billion), the United States ($1 billion in guarantees), Canada (620 million Canadian dollars), Germany (€150 million), Great Britain (£100 million), and Japan (£100 million). The World Bank announced a possible loan of $350 million.

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