The IMF approved a tranche to Ukraine in the amount of about $700 million

The Board of Directors of the International Monetary Fund has completed the revision of the program to allocate a tranche of about $700 million to Ukraine, President of Ukraine Volodymyr Zelensky announced this on his Twitter.

“We will use these funds to support the financial system and combat the effects of covid-19 . The IMF program will continue,” the Ukrainian president wrote.

The provision of the tranche to Ukraine was confirmed by the press service of the fund. “The completion of the review allows the authorities to allocate the equivalent of approximately $699 million,” the IMF said in a statement.

In addition, the board of the fund approved the extension of the agreement on standby lending to Ukraine until the end of June 2022 and the redistribution of payments under the program.