IMF offers Ukraine SDR 1.9 billion

(MENAFN) The First Deputy Governor of the National Bank of Ukraine (NBU), Kateryna Rozhkova, said on Facebook that Ukraine had secured 1.9 billion Special Drawing Rights (SDRs), or about 2.7 billion billion dollars, from the International Monetary Fund.

She noted: “Today, 1.9 billion SDR has been deposited into the account of Ukraine by the IMF! A great gift before independence day! Glory to Ukraine!

On July 8, the IMF Executive Board approved the proposal by IMF Managing Director Kristalina Georgieva for a new general SDR allocation equal to USD 650 billion – the largest allocation in IMF history – to meet long-standing international reserve needs in the worst disaster since The Great Depression. Georgieva pledged to present the new SDR allocation proposal to the IMF Governing Council for consideration and agreement. Given the size of the country’s quota (0.42%), the state can take around $ 2.73 billion.

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