IMF not considering emergency financing for Ukraine – finance minister.

REUTERS

REUTERS

Ukrainian Finance Minister Serhiy Marchenko says the International Monetary Fund (IMF) is not considering the allocation of emergency financial assistance to Ukraine.

He made the comment during the Pravo na Vladu ("Right to Power") talk show on November 26, according to an UNIAN correspondent.

Read also Ukraine's government endorses 2021 budget agreed with IMF: Key indicators

"This is about whether we have applied for emergency financing. This means funding when a state is indeed in a plight. We were considering this issue over the current situation. But our partners from the International Monetary Fund answered: 'Dear Ukraine, you have a program, so please, we're ready to cooperate under this program. We're now not considering emergency financing for you.' So, we asked a question and we were clearly told we need to work within the program and fulfill its conditions," he said.

Ukraine and IMF: Background

  • On November 17, President Volodymyr Zelensky spoke over the phone with IMF Managing Director Kristalina Georgieva, saying Ukraine had fulfilled all the "structural benchmarks" for the IMF to review the existing Stand-By Arrangement.
  • On June 9, 2020, the IMF's Executive Board adopted an 18-month Stand-By Arrangement (SBA) 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, Ukraine received US$2.1 billion in the first tranche of the IMF loan under the SBA. The Finance Ministry planned to receive the second tranche under the same arrangement before the end of the year.

Author: UNIAN

Unian

Read the top-news of politics in Ukraine and the world, the latest political news from the UNIAN news agency.

https://www.unian.info/

Related news
Ukraine welcomes new U.S. sanctions against Nord Stream 2

Ukraine welcomes new U.S. sanctions against Nord Stream 2

On January 18, 2021, the United States warned allies in Europe about its intention to impose sanctions on the Russian ship Fortuna, which is participating in the construction of the Nord Stream 2 gas pipeline.

Unian

Jailed ex-music producer Phil Spector dies

Jailed ex-music producer Phil Spector dies

Disgraced former music producer Phil Spector has died aged 81. The California Department of Corrections and Rehabilitation has confirmed he died of natural causes on Saturday evening. Read more here: Sky News videos are now available in Spanish he...

Phil Spector, music producer and murderer, dies at 81.

Phil Spector, music producer and murderer, dies at 81.

Phil Spector, the famed music producer who was convicted of murder in 2009, has died, California prison officials said Sunday. He was 81. CBSN is CBS News’ 24/7 digital streaming news service featuring live, anchored coverage available for free ac...

Russian opposition leader Alexey Navalny returns to Moscow and is immediately detained.

Russian opposition leader Alexey Navalny returns to Moscow and is immediately detained.

Russian opposition leader Alexey Navalny returned to Moscow on Sunday for the first time since he was poisoned this summer by a Soviet-era nerve agent. He was immediately taken into custody. CBSN is CBS News’ 24/7 digital streaming news service fe...

1 15

Convincing Black Americans to get the COVID-19 vaccine.

Convincing Black Americans to get the COVID-19 vaccine.

Local leaders in the Black community are encouraging Black Americans to get the coronavirus vaccine. Freeman Hrabowski, III, Ph.D, president of the University of Maryland Baltimore County, explains to CBSN why he and his wife entered the Moderna v...

Russian Police Detain Navalny Upon Arrival in Moscow.

Russian Police Detain Navalny Upon Arrival in Moscow.

Kremlin critic Alexei Navalny kisses his wife, Yulia Navalnaya, before being led away by police at an airport in Moscow, Russia, Sunday, January 17, his first time back in his home country since he was poisoned in August Traveling from Germany, Na...

Russia: Navalny arrested at border control

Russia: Navalny arrested at border control

Alexei Navalny has been arrested at border control as he arrives back in Russia. The Putin critic was flown to Germany for medical treatment last year after being poisoned by a nerve agent which has been widely blamed on the Kremlin. SUBSCRIBE to ...