Cabinet authorizes Finance Ministry to issue bills to attract IMF financing

18:27, 23.08.2018 1 min read

The Cabinet of Ministers of Ukraine has authorized Acting Finance Minister Oksana Markarova to sign non-negotiable non-interest bearing notes in the national currency in favor of the International Monetary Fund (IMF).

Corresponding order No. 565-r of August 22, 2018 has been posted on the government's website.

The document assumes the issue of securities for the amount of funds raised under the Stand-By Arrangement and the EFF program.

An explanatory note to the order says that within the framework of cooperation with the IMF, the state participating in the fund's program is given the opportunity to acquire special drawing rights (SDR) or the currency of other IMF member countries at the expense of its own currency or the issue of bills.

Such bills will be deposited with the National Bank of Ukraine.

As reported, the IMF mission for the fourth revision of the EFF program will arrive in Ukraine on September 6.