Ukraine may receive $2.7 billion from the IMF this summer

under a plan by the International Monetary Fund Managing Director, Kristalina Georgieva, to allocate $650 billion from international reserves to restore the world economy after the coronavirus crisis. Unlike the conventional IMF programs this money would not have to be paid back. The National Bank of Ukraine Governor, Kyrylo Shevchenko, announced the possible windfall yesterday following a meeting with Alfred Kammer, the Director of the IMF’s European Department.

Renewal of Ukraine’s $5 billion IMF agreement depends on “a number of outstanding issues that need to be resolved,”

Goesta Ljungman, the IMF’s resident representative, said in a lengthy interview with Interfax-Ukraine. “At this stage, it is not possible to make any predictions about when the review can be completed. This depends on how quickly there is progress on outstanding issues,” he said, referring to the Stand-By Arrangement that has been largely dormant since $2.1 billion was disbursed last June 11.