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Photo: Yakov Smoliy (NBU press service)
All loans for 6-6.5 billion dollars will be used to cover the budget deficit
Ukraine has agreed with the International Monetary Fund (IMF) and other international organizations that all loans will be used to cover the deficit in the state budget. The head of the National Bank Yakov Smoly said this in an interview with BBC News Ukraine.
As Smoly noted, Ukraine will be able to receive the first tranche of the new program with the IMF in late May and early June.
According to him, by the end of the year, the IMF can provide Ukraine with up to $ 3.5 billion.
He recalled that cooperation with the fund “opens the door to additional funds from the World Bank, the European Commission and the governments of Canada and Japan.”
“If this is combined, it could be about $ 6-6.5 billion,” said the head of the NBU.
The NBU chief said that all the funds received from international lenders will go to cover the budget deficit.
“By prior agreement, all amounts we discuss with the IMF and other donors will be allocated to the state budget to cover the deficit,” Smoly said.
As reported by RBC-Ukraine, the law adopted by the Verkhovna Rada on bankrupt and nationalized banks gives the green light to sign an agreement with the International Monetary Fund.
As reported by RBC-Ukraine, on April 13, the Verkhovna Rada adopted amendments to the state budget for 2020. The deficit of the state budget increased from 96.3 billion UAH to 298.4 billion UAH.
Posted by: Alexander Belous
