Ukraine is negotiating to obtain special borrowing rights issued by the IMF – Minister
Sergey Marchenko
Ukraine is working with the United States and other Western countries to unlock billions of dollars in funding to strengthen its finances, including negotiating with the G7 and the EU to establish a mechanism to grant Ukraine special borrowing rights issued by the IMF. This was stated by Finance Minister Sergei Marchenko in a comment to Reuters .
Ukraine , Ukraingate , 20 , February , 2022 | Ukraine News
Marchenko spoke about the prospects of obtaining special drawing rights (SDRs) from foreign partners issued by the IMF.
Quote:
“We are discussing with the G7 and the EU the potential creation of a complex tool for the redistribution of SDRs previously received by these countries to support Ukraine’s financial stability,” the finance minister was quoted as saying.
Details
Marchenko noted that this is just one of a number of initiatives aimed at stabilizing Ukraine’s economy in the face of escalating conflict with the Russian Federation.
The minister added that the Ukrainian government expects the US Congress to approve a decision soon to provide Ukraine with a sovereign credit guarantee of up to $ 1 billion.
In addition, the Minister of Finance said that the government hopes to receive the first tranche of macro-financial assistance from the EU in the amount of 600 million euros after approval of the decision by the EU Council (total 1.2 billion euros) and a loan from Canada in the amount of 500 million Canadian dollars in March. year. Ukraine is also in talks with Japan for financial support.
“We will be able to obtain the necessary amount of borrowing to finance our deficit and maintain macro-financial stability,” said the Minister of Finance.
Addition
The government points out that information pressure and escalation near Ukraine’s borders affect the economic background, but the situation remains stable and under control.
Source: Ukrgate
