The President of Ukraine Vladimir Zelensky and managing Director of the International monetary Fund Kristalina Georgieva discussed cooperation in pandemic coronavirus, the press service of the head of state.
“We discussed increasing the amount of support for Ukraine from the Fund during a time of great challenges for the economy associated with the global pandemic. Ukraine is aware that it is necessary to act actively and quickly to minimize the negative impact of the pandemic and the associated restrictions on the economy and welfare of citizens,” said Zelensky.
In addition, Georgieva and Zelensky discussed “the expansion of the program of cooperation of Ukraine with the IMF to support further reforms in our country and overcome the challenges facing the Ukrainian economy in connection with the spread of the coronavirus” and “expansion of programmes to support Ukraine and increase of their volume from international partners.”
The Director of the IMF on Twitter called the conversation with the Ukrainian President a “very constructive”.
“The country is facing huge challenges in connection with the distribution of COVID-19,” said Georgieva.
I had a very constructive conversation with Ukraine’s President @ZelenskyyUa today, and expressed our support for Ukraine as the country confronts the tremendous challenges caused by COVID-19 – Kristalina Georgieva (@KGeorgieva) March 22, 2020
On March 4, she said that the Fund has reserved about $50 billion to counter the effects of outbreaks of coronavirus infection. So, to help low-income IMF has reserved $10 billion.
March 16, Georgieva said that already 20 States have sent to the Fund after the beginning of the epidemic COVID-19. Georgieva stressed that the current cooperation program with the IMF can also be used to assist countries in connection with the coronavirus. The Director of the IMF noted that the Fund can accumulate up to $1 trillion for these purposes.
On 19 March the head of the NBU Yakov Smoliy said that Ukraine has stepped up negotiations with the IMF under the program of expanded financing, and conducted consultations on “financing mechanisms outside of the emergency financial assistance that the Fund provided to low-income and developing economies.”
Flash coronavirus infection COVID-19 began in December 2019 in China. March 11, the world health organization declared the spread of the coronavirus pandemic. According to the American Johns Hopkins University on March 22, the total number of infected people in the world is more than 310 thousand, killed more than 13 thousand people.
From March 12 in Ukraine because of the spread of coronavirus infection banned public events and shut down schools. In addition, on the night of March 16, Ukraine has banned entry into the country of foreign citizens from March 17 suspended air communication with other countries, and from 18 March, the country stopped domestic passenger transport, and limited public transportation (in some cities it is completely terminated).