The Deputy Head of the National Bank of Ukraine spoke about the negotiations with the IMF in the spring of 2022

Deputy Chairman of the National Bank of Ukraine Serhiy Nikolaychuk told how in the spring of 2022 the regulator negotiated with the International Monetary Fund (IMF) to allocate $1.4 billion in emergency assistance to Kyiv. According to Mr. Nikolaychuk, in March, talks with the IMF over aid were interrupted by an air raid, and Ukrainian officials had to go into hiding, from where negotiations continued. According to the memoirs of the deputy head of the National Bank, the representatives of the IMF were impressed.

“The board gathered in front of a laptop in a narrow four-square-meter room and continued consultations,” describes Bloomberg Mr. Nikolaychuk underground shelter. “I think the IMF team was impressed,” he recalls.

Mr. Nikolaychuk also said that even before the entry of Russian troops into Ukraine, the employees of the National Bank were ready for a possible evacuation from Kyiv, they had collected “travel bags” with everything they needed. After February 24, the employees were transferred to an unknown location in western Ukraine, then they were transferred to Lviv.

Negotiations with the IMF then ended successfully. Foundation Executive Board approved decision to allocate $1.4 billion to Kyiv as emergency aid.

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Maria Fedotova