The IMF Board of Directors approved a $ 5 billion cooperation program with Ukraine

The Board of Directors of the International Monetary Fund has approved an 18-month program of cooperation with Ukraine worth $ 5 billion. “The new program aims to help Ukraine cope with the challenges caused by COVID-19,” the IMF said. The International Monetary Fund named among the priorities of the new agreement: mitigating the impact of the crisis on the economy, including with the support of households and businesses; ensuring central bank independence and exchange rate flexibility; protecting financial stability during the restoration of banking regulations; progress in key government and anti-corruption activities to support and deepen recent advances.

The decision of the IMF Board of Directors allows Ukraine to provide the first tranche of $ 2.1 billion. The International Monetary Fund expects Ukraine’s gross domestic product to fall by 8.2 percent in 2020.

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