14:11 28.03.2020

After meeting conditions for IMF program Ukraine to receive first fast tranche of $2 bln directly to budget within 15 days – Zelensky

2 min read
After meeting conditions for IMF program Ukraine to receive first fast tranche of $2 bln directly to budget within 15 days – Zelensky

Ukrainian President Volodymyr Zelensky has said that after meeting the conditions for the program of the International Monetary Fund (IMF) regarding the adoption of the land market and the non-return of insolvent banks to their ex-owners Ukraine will receive a first fast tranche of $2 billion within 15 days and this money will be sent to the country's budget at once.

"No one wants the country's default. I am sure that our members of parliament will hear me and it will not happen. There will be support from international institutions and the International Monetary Fund. We arranged with the IMF management that as soon as we meet these conditions, within about 15 days we will receive the first quick tranche. It will be about $1.75-2 billion. I think it will be $2 billion, immediately to the budget of Ukraine, that is, not to the National Bank, but immediately to the budget of Ukraine, and we will be able to support our people," he told reporters on Friday after a meeting of the Servant of the People parliamentary faction.

Speaking of a compromise on land reform, Zelensky said that according to the agreements reached, state-owned land would not be sold right now.

"We have reduced the concentration for individuals to 100 hectares. For legal entities, this is the second stage, which will be introduced in 2024, there will be up to 10,000 [ha]. Hence, the first stage – for individuals, for Ukrainians – 100 hectares per person," he said.

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