The decision of the International Monetary Fund on the Stand-By program for Ukraine is expected on June 5.
The Prime Minister of Ukraine Denys Shmyhal stated on the air of the political talk show "Savik Shuster's Svoboda Slova" (ed. Freedom of Speech by Savik Shuster). The Head of Government reminded that today Ukraine had completed the negotiations with the IMF. "President of Ukraine Volodymyr Zelenskyy has had a telephone conversation with the head of the IMF and on June 5 we expect to sign the Arrangement," the Prime Minister said. According to him, an agreement has been reached with the IMF on a cooperation program for 18 months for Ukraine to receive a loan of a total of $5 billion for a period of 5 years.
"This is a Stand-By loan under simplified conditions, which will allow Ukraine to advance towards overcoming the effects of the coronavirus-inflicted crisis. The first tranche we expect to receive in June will amount to $1.9 billion, and we expect another $1.6 billion in the fall, plus $1.5 billion dollars the next year", said Denys Shmyhal. More over, the Prime Minister stressed that the Program of cooperation with the IMF includes the necessary structural beacons that coincide with the directions of reforms that are already being implemented in Ukraine.
Denys Shmyhal is convinced that the Program of cooperation with the IMF will provide Ukraine an opportunity to advance in relations with international partners.