Ukraine has received 1.9 billion Special Drawing Rights (SDRs), equivalent to about $2.7 billion, from the International Monetary Fund, First Deputy Governor of the National Bank of Ukraine (NBU) Kateryna Rozhkova has announced on Facebook.
“Today, 1.9 billion SDRs came to Ukraine’s account from the IMF! A great gift ahead of Independence Day! Glory to Ukraine!” Rozhkova wrote.
The IMF Executive Board on July 8 concurred in IMF Managing Director Kristalina Georgieva’s proposal for a new general SDR allocation equivalent to $650 billion – the largest allocation in the IMF’s history – to address the long-term global needs for reserves during the worst crisis since the Great Depression. Georgieva promised to present the new SDR allocation proposal to the IMF’s Board of Governors for their consideration and approval. Given the size of Ukraine’s quota (0.42%), the state can receive about $2.73 billion. (Ukrinform/Business World Magazine)
