Ukrainian PM welcomes IMF decision on new loan

By IANS | Published: November 24, 2021 06:30 AM2021-11-24T06:30:04+5:302021-11-24T06:40:07+5:30

Kiev, Nov 24 Ukrainian Prime Minister Denys Shmyhal has welcomed the decision of the International Monetary Fund's (IMF) ...

Ukrainian PM welcomes IMF decision on new loan | Ukrainian PM welcomes IMF decision on new loan

Ukrainian PM welcomes IMF decision on new loan

Kiev, Nov 24 Ukrainian Prime Minister Denys Shmyhal has welcomed the decision of the International Monetary Fund's (IMF) Executive Board to approve the second tranche of about $700 million for Kiev, the Ukrainian government press service said.

In a statement posted on the government website on Tuesday, Shmyhal said that the fresh disbursement demonstrates the progress Ukraine has made in pursuing a policy of reforms, Xinhua news agency reported.

He noted that the funds will be directed to support the stability of Ukraine's financial system and combat the Covid-19 pandemic.

On Monday, the IMF completed the first review of Ukraine's economic performance under the 18-month Stand-

The global lender also approved an extension of the SBA, which was due to expire in December this year, till the end of June 2022.

Ukraine secured the SBA in June 2020. Since then, the Eastern European country has received only the first tranche from the program worth $2.1 billion.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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