Ukraine to spend this year all $2.7 billion it received from the IMF in 2021

16 December 2021, 11:04 AM

Ukraine has spent U.S. $2.4 billion of the $2.7 billion it received from the International Monetary Fund this year, Ukraine’s Finance Ministry told Ukrainian news agency Interfax Ukraine on Dec. 16. 

And by the end of the year the Ukrainian government plans to spend the remaining portion of about $250 million of the IMF loan, the ministry said.

According to the memorandum it signed with the IMF back in November, Ukraine had initially intended to keep these remaining funds as a safety cushion against future risks.

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Kristalina Georgieva, the managing director of the IMF, in August 2021 announced the disbursement of Special Drawing Rights (SDRs) for Ukraine amounting to $650 billion.

In total, Ukraine was entitled to get about $2.7 billion (SDR 1.9 billion) in funds. SDR 1 billion were converted into currency and used to repay $1 billion worth of Ukrainian-issued state bonds that matured on Sep. 29.



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