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Shmyhal on IMF tranche: We have confirmed Ukraine's status as reliable partner.

The IMF's decision to grant Ukraine a tranche of almost $700 million has confirmed the country's status as a reliable and responsible partner, Prime Minister Denys Shmyhal has said.

According to the government's website, Shmyhal welcomed the IMF's decision, emphasizing that a positive assessment by international partners demonstrates Ukraine's successful movement in implementing reforms.

"With the measures taken by Ukraine in terms of reforming the judiciary, continuing reform in the financial sector, we have confirmed Ukraine's status as a reliable and responsible partner. The IMF funds will be used to maintain the stability of the financial system and combat the consequences of COVID-19," Shmyhal said.

Read also: IMF approves Ukraine tranche worth almost $700M

Earlier reports said that at a meeting to review the ongoing Stand-By Arrangement with Ukraine, the IMF Executive Board decided to extend the program and allocate a tranche of about $700 million.

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