President Volodymyr Zelenskiy welcomed the news, saying:

“This will be a good gift for our country on the 30th anniversary of Independence. These funds will help overcome the consequences of the coronavirus crisis and stimulate our economy.” He said IMF Managing Director Kristalina Georgieva informed him of the plan last Thursday when they talked by telephone. The money comes just before Ukraine’s faces $3 billion in debt payments due in September. This hurdle is equal to the total of payments due for the following six months.