Ukraine expects $5bn IMF loan approval on June 5 — PM

Denys Shmygal

PRIME Minister Denys Shmygal says Ukraine expects the International Monetary Fund (IMF) to approve a 5 billion dollars (4.05 billion pounds) loan package at a board meeting on June 5, Reuters reported on Friday.

Shmygal added that the first tranche of 1.9 billion dollars would be disbursed the following day.

“Ukraine needs loans to weather an economic shock caused by the coronavirus pandemic.

“Gross domestic product could fall by 12 percent in the second quarter of this year, according to a preliminary estimate,’’ Shmygal said in an interview with Reuters.

He also said that the government would allow wheat exporters to export freely for the next two months. (Reuters/NAN)

– May 29, 2020 @ 14:45 GMT |

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