The IMF loan will be spent to cover the state budget deficit – Minister of Finance


The USD 699 million that Ukraine received from the IMF will be spent to cover the state budget deficit, including social needs or the fight against the coronavirus.

This was reported by UA with reference to a statement by Finance Minister Serhiy Marchenko on Ukraine 24 TV channel.

“As soon as these funds appear in the treasury account, I hope that in the coming days, these funds will dissolve, they will not have any binding, whether they are IMF funds or taxpayers’ funds. They will be the funds that the government will have at its disposal” – Serhiy Marchenko said.

According to him, funds from the IMF go to foreign currency accounts. When you need to use them, they will be exchanged for another currency.

“Then we finance the budget deficit, direct these funds to pay social obligations, to fight the coronavirus, and so on” – Marchenko explained.

To remind, the International Monetary Fund completed the first revision of the Stand by (SBA) program and decided to allocate a second tranche of $ 699 million for Ukraine, as well as to extend the program until June 2022.

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