IMF to extend financial assistance to Ukraine

Ukraine would receive a total of 4.5 billion U.S. dollars from the International Monetary Fund (IMF) this year, the country’s finance ministry said Friday.

Ukraine got the first tranche of 2.7 billion dollars earlier this month, and expects to receive two additional tranches totaling 1.8 billion dollars, the ministry said in a statement.

After his meeting with IMF Managing Director Kristalina Georgieva at the Spring Meetings of the IMF and the World Bank, Ukrainian Finance Minister Serhiy Marchenko said the new Extended Fund Facility program endorsed by the IMF last month “will make a significant contribution to the financing of this year’s budget deficit and will create the underpin for the reconstruction of the country and its accession to the European Union.”

Last month, the IMF approved a four-year Extended Fund Facility program for Ukraine in the amount of 15.6 billion dollars to support Ukraine’s stability and economic recovery. Enditem