Ukraine Received more than USD 2.7 billion from the IMF for Economic Recovery

Ukraine has received over USD 2.7 billion due to the allocation of Special Drawing Rights (SDR) as part of the IMF's assistance to member countries in economic recovery from the coronavirus crisis. The funds have been allocated to Ukraine's account.

SDRs can be converted into currency and used to finance the budget in this budget period or retained to provide budget financing in future budget periods. The decision on the distribution of these funds will be made according to the current legislation.

On August 2 this year, the IMF Board of Governors approved the allocation of Special Drawing Rights (SDR) to countries to help rebuild the global economy affected by the pandemic coronavirus in the amount of USD 650 billion. It is the largest SDR allocation in the history of the Fund.

This decision was taken by the IMF Board of Governors on the proposal of IMF Managing Director Kristalina Georgieva.

Ukraine continues cooperation with the IMF and takes measures for the implementation of reforms and fulfillment of obligations undertaken within the framework of the Stand-by Program with the IMF. Today, the Ministry of Finance is working on the completion of the first review of the current program and expects the IMF mission in September this year.