May 12, 2020 / 1:40 PM / 16 days ago

Ukraine PM hopes to sign memorandum for IMF $5 bln deal by end-May

KIEV, May 12 (Reuters) - Ukraine’s government hopes to sign a memorandum with the International Monetary Fund for a new $5 billion loan package by the end of May, Prime Minister Denys Shmygal said on Tuesday.

Of that money, $3.5 billion is intended to go directly into the state budget, he said in a statement.

“It’s not just financial support. This is a guarantee of receiving funds from other international financial organisations and an indicator that we are on the path of systemic reforms,” he said. (Reporting by Natalia Zinets; writing by Matthias Williams Editing by Gareth Jones)

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