IMF approves USD 5 billion for Ukraine

RUSSIA / FSU POLITICS - In Brief 10 Jun 2020 by Alex Teddy
On June 10 the IMF executive board signed off on a USD 5 billion standby arrangement for Ukraine to last 18 months. Ukraine shall receive USD 2 billion immediately. The remainder shall be paid out in four installments up to December 2021. The aid is USD 200 million more than originally discussed. President Zelensky is jubilant. He hails it as a triumph for his banking law. Ukraine now expects that the EU will be more helpful. Ukraine's economy is forecast to shrink 5% in 2020.

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