Kiev, Nov 24, : Denys Shmyhal, Ukrainian Prime Minister, has welcomed the decision by the International Monetary Fund (IMF) Executive Board, to approve the second tranche, which is estimated at $700 million, for Kiev, according to the Ukrainian government press release.Shmyhal stated in a statement that Tuesday’s disbursement reflected the progress made by Ukraine in pursuing a policy reforms, Xinhua news agency reported.
He stated that the funds would be used to support Ukraine’s financial stability and fight the Covid-19 pandemic.
Monday’s IMF review of Ukraine’s economy under the Stand-By Arrangement (SBA) was completed.This allowed Kiev to receive the second tranche of the $5-billion program.
The global lender also approved a prolongation of the SBA, which was due expire in December 2018 and will continue until June 2022.
In June 2020, Ukraine was granted the SBA.The first tranche of the $2.1 billion program has been paid to the Eastern European country since then.
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