The volume of Ukraine's planned payments to the International Monetary Fund (IMF) in 2021 is about $1.6 billion, of which almost $1.36 billion is principal debt repayment and $260 million is interest, National Bank of Ukraine Board Chair Bohdan Danylyshyn said Tuesday
KIEV (Pakistan Point News / Sputnik - 12th January, 2021) The volume of Ukraine's planned payments to the International Monetary Fund (IMF) in 2021 is about $1.6 billion, of which almost $1.36 billion is principal debt repayment and $260 million is interest, National Bank of Ukraine Board Chair Bohdan Danylyshyn said Tuesday.
"The volume of planned state payments to the IMF in 2021 is about $1.6 billion, of which almost $1.36 billion is repayment of the principal amount of the debt, and $260 million is interest payments. The need to refinance Ukraine's debt to the IMF requires the parties to fulfill their obligations under the current Stand-By Agreement, which will allow Ukraine to attract IMF funding in the amount of about $2.9 billion. It will correspond to the amount of four tranches of the loan within the corresponding quota, two of which were provided for receipt in 2020," Danylyshyn wrote on his Facebook page.
The IMF Executive Board approved the 18-month $5 billion Stand-By Arrangement for Ukraine in June 2020. The new program aims to help Ukraine deal with the challenges of the COVID-19 pandemic. Kiev received the first tranche of about $2.1 billion after parliament passed the law on the non-return of nationalized banks to former shareholders and the law allowing the sale of agricultural land. Subsequent tranches were conditioned on the tightening of the fiscal policy, the discussion of which led to cooperation being frozen.
On December 21, the Ukrainian National Bank met the basic requirements for the beginning of the IMF mission's work in the country. On Monday, the mission resumed its review of the stand-by program.
