Photo: President’s Office, Sergei Marchenko hopes to receive the first tranche from the IMF before the end of may

The IMF money will go to direct financing of the state budget, said Sergei Marchenko.

The Ukrainian authorities expect to receive from the IMF of $1.75 billion first tranche of financial aid under the new program of cooperation. This was stated by the Minister of Finance, Sergei Marchenko, in an interview LIGA.net published on Thursday, 23 APEL.

“At least $1.75 billion,” – said the Minister in response to the question, what will be the first tranche of the IMF.

Marchenko assured that these funds will be used for direct financing of the state budget. Only in 2020, the Finance Ministry hopes to attract in the budget of at least $3.5 billion from the IMF, the Minister said.

“We are negotiating on increase this amount. Hope to receive the first tranche before the end of may, the Memorandum we have already agreed at the technical level remains to fulfill the last condition and make banking act (the so-called “andikalovsky the law” – ed.)”, – said Marchenko.

He noted that if andikalovsky the law will not take, and Ukraine will not receive money from the IMF, it will be very difficult and very painful story.

We will stop the funding of many planned expenditures, including social. In short, you will have to make unpopular decisions and make difficult steps that will be felt by all, – said the head of the Ministry of Finance.

We will remind, last week the IMF supported a sharp increase in the budget deficit of Ukraine over pandemic coronavirus. In the Fund believe in the imminent fulfillment of the conditions for the start of a new programme of support.

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