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IMF credited $2.7 billion to Ukraine's account

Ukraine got 1.9 billion SDRs (Special Drawing Rights), or about $2.69 billion in equivalent from the International Monetary Fund.

This was stated by the First Deputy Governor of the National Bank Kateryna Rozhkova.

"Today, 1.9 billion SDRs were credited to Ukraine's account from the IMF!" Rozhkova wrote.

Context. The IMF's Executive Board agreed with the proposal by Fund Managing Director Kristalina Georgieva for the largest non-refundable SDR distribution in IMF history, equivalent to $650 billion.

These funds are intended to meet long-term global reserve requirements during the worst economic crisis since the Great Depression. The SDRs will be distributed in accordance with the quota of each state in the IMF. The amount of Ukraine's quota in the IMF is 0.42%, or about $2.7 billion at current exchange rates.

Special Drawing Rights (SDR) are a reserve and legal tender issued by the International Monetary Fund. It has only a non-cash form of circulation. It was created in 1969 as an addition to the existing reserve assets of the Fund's member countries.

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