Ukraine may not receive $ 2.2 billion this year due to the decision of the Constitutional Court

News

Ukraine may not receive $ 2.2 billion this year due to the decision of the Constitutional Court

06.11.2020 News

The decision of the Constitutional Court violates Ukraine’s obligations to Western creditors. This was reported by the Ministry of Finance with reference to the statement of the head of the department Serhiy Marchenko.

He addressed to the assessments of the World Bank management regarding the decision of the Constitutional Court on the officials’ e-declarations. “They believe Ukraine is violating its liabilities under the DPL loan agreement. This threatens all the bank’s projects with Ukraine. In general, we talk about $ 2.23 billion,” Marchenko said.

According to him, Ukrainian authorities risk losing two IMF tranches of $ 700 million this year, as well as a € 600 million loan from the EU and $ 350 million from the World Bank due to the decision of the Constitutional Court.

Moreover, the Ukrainian government may not receive another $ 1.5 billion from the IMF, € 600 million from the EU and $ 350 million from the World Bank in 2021.

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