11:53 19.03.2020

Ukraine consulting with IMF on possibility of receiving emergency financing over COVID-19 – NBU

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Ukraine consulting with IMF on possibility of receiving emergency financing over COVID-19 – NBU

Ukraine, along with the active continuation of the negotiations with the International Monetary Fund (IMF) on the opening of the new Extended Fund Facility (EFF), is also holding consultations with the IMF on the possible receiving financing through the $50 billion rapid-disbursing emergency financing facilities announced by the IMF for low income and emerging markets suffering from the coronavirus COVID-19 pandemic, Governor of the National Bank of Ukraine (NBU) Yakiv Smolii has said.

"The results of the negotiations will be in the coming weeks," the National Bank's press service said, citing him on Thursday as he met online on March 18.

Smolii said that the National Bank is in continuous cooperation with all public authorities and foreign colleagues, in particular, there is direct contact with the European Central Bank.

As reported, early March the IMF announced its readiness to make available about $50 billion through its rapid-disbursing emergency financing facilities for low income and emerging market countries that could potentially seek support. This week, IMF Managing Director Kristalina Georgieva said that the IMF is ready to mobilize its $1 trillion lending capacity to fight coronavirus.

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