Ukraine may receive over $2.7 bln from IMF as part of additional SDR issue – NBU governor

11:24, 07.04.2021 2 min read

Ukraine, in proportion to its quota in the International Monetary Fund (IMF), could receive more than $2.7 billion in U.S. dollar terms as part of the IMF new initiative on the additional allocation of special drawing rights (SDRs), Governor of the NBU Kyrylo Shevchenko has said.

"We hope that Ukraine will be able to receive additional funding under this initiative... The last time the IMF did a similar allocation in 2009. It was a reaction to the crisis. The IMF initiative for Ukraine could be a positive factor," he said in an exclusive interview with Interfax-Ukraine.

According to him, a more accurate figure will depend on the exchange rate of the currencies included in the SDR basket.

Shevchenko said that the goal of this new initiative, announced by the IMF, is to provide additional liquidity to the global economic system by supplementing the reserve assets of the Fund's 190 member countries, and its announced total volume is $650 billion.

The governor of the National Bank said that this allocation will be discussed at the beginning of the spring meeting, however, for the implementation of this initiative, approval is required first by the IMF Executive Board, and then by the Board of Governors.