UKRAINE SEEKS TO EXTEND ITS COOPERATION PROGRAMME WITH IMF

On Wednesday, Chief Kyrylo Shevchenko said Ukraine seeks to extend its cooperation programme with the International Monetary Fund (IMF), which is due to expire in December, the country’s Central Bank.

He said “We consulted the IMF and we expect to extend the programme for six to nine months.

“The extension will allow us to complete all the technical procedures envisaged by the programme.

Ukraine secured an 18-month stand-by programme from the IMF with a total volume of 3.6 billion SDR (about 5 billion U.S. dollars) in June 2020.

Since then, the East European country has received only the first tranche from the programme worth 2.1 billion dollars.

The disbursement of the funds was suspended due to Ukraine’s failure to fulfil certain obligations prescribed in the programme.