Ukraine to receive USD 2.7 bln from the IMF in August

Ukraine can expect to receive USD 2.7 bln from the
International Monetary Fund (IMF) on Aug. 23. The announcement came after a
talk between President of Ukraine Volodymyr Zelensky and IMF managing director
Kristalina Georgieva, president.gov.ua reported on Aug. 3. The funds are part
of a USD 650 bln release by the IMF to restart the world economy as the COVID
pandemic continues.

Zelensky noted that the Ukrainian government is still
working closely with the IMF and that he expects the IMF mission in September.

James Hydzik: The USD 2.7
bln should give the Ukrainian government breathing room while it sorts out both
relations with the IMF and its own 2022 budget. By taking the edge off the
budget desperation in the government, it might be easier to come to an
agreement. However, this amount is not enough (and is only once) to let the
government convince itself that the IMF is no longer needed, so the reception
of the IMF mission’s visit might be as cordial as possible.