13:50 19.01.2021

Ukraine plans to return to sending IMF borrowing into NBU FX reserves by 2023 – Finance minister

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Ukraine plans to return to sending IMF borrowing into NBU FX reserves by 2023 – Finance minister

By 2023, Ukraine plans to return to the format of borrowing from the International Monetary Fund (IMF) channeling the funds into the FX reserves of the National Bank of Ukraine (NBU) or technical assistance instead of directly financing the national budget deficit, Finance Minister Serhiy Marchenko has said.

"At the moment, the IMF provides money directly to the budget to finance the deficit. We want the IMF to allocate funds for the [FX] reserves of the National Bank, or only provide technical assistance, that is, guarantees that the money will be available in case of an emergency," he said in interview with DER STANDARD.

He said that direct financing of the national budget should end before 2023.

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