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Wednesday, July 28, 2021

Why IMF refused to provide Ukraine $ 700 million loan?

The International Monetary Fund refused to provide Ukraine with a tranche of a $ 700 million loan due to a number of reasons.

In particular, the Ukrainian government must pass a number of laws. This was stated by President Volodymyr Zelenskyy during the Ukraine 30 forum.

As Zelensky noted, Ukraine is in the IMF program, according to which it has already received $ 2.1 billion.

“We also have two tranches. There are three tranches in this program: $ 700 million more and another $ 700 million. Now the IMF had to provide a date when the second tranche of another $ 700 million would be allocated. The program was not implemented due to some things, ”he said.

What Ukraine did not fulfill

Among the reasons for the failure to implement the program, Zelensky named the law on the High Council of Justice (GRP). However, the corresponding bill of the Verkhovna Rada, as well as the bill on NABU have already been registered, he noted.

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Relations with the IMF

Zelensky said that the Ukrainian government has normal relations with the IMF, but some lobbyists are hindering them.

“I believe that no one inside Ukraine helps us with this topic, but on the contrary, I know that many people, many lobbyists work separately with the IMF, tell us what is happening here in Ukraine, ay-ay-ay, there is such, such terrible, ”he said.

At the same time, the President announced that he was not going to fulfill some of the requirements of the IMF.

“On the other hand, I can say that we are building an independent Ukraine. And some of the things that our Western partners want, I understand them, we agree with some things, and with some we do not. Because I am the guarantor of the Constitution, I defend the independence of Ukraine, independence in all the measure of this word, ”Zelensky said.

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