Ukrainian President Volodymyr Zelensky (L) and Prime minister Denys Shmyhal talk during a special government meeting with the participation of President of Ukraine Volodymyr Zelensky at Unit.City innovative park on March 13, 2020.
Ukraine expects a $5 billion IMF loan to be approved on June 5, Prime Minister Denys Shmyhal has said in an interview with Reuters. The first tranche of $1.9 billion may be disbursed the following day. Ukraine needs the loans to weather an economic shock caused by the coronavirus pandemic. Gross domestic product could fall by 12% in the second quarter of this year, according to a preliminary estimate, Shmyhal said.
The European Union approved disbursement of 500 million in macro-financial assistance to Ukraine. The EU says it has now provided Ukraine with 3.8 billion euros worth of loans to the country since 2014.
