Ukraine expects to receive $1 billion in loan tranche from the International Monetary Fund (IMF), the country`s key creditor, which will be used to replenish the National Bank of Ukraine`s (NBU) reserves, according to Ukrainian Prime Minister Volodymyr Groysman.
”The amount [of tranche] for Ukraine will be determined at the Executive Board meeting. It is about $1 billion, which will be channeled into the NBU reserves,” Groysman said on air to a Ukrainian TV channel.
He added that the disbursement of the IMF tranche would secure the receipt of a $1 billion loan guarantee from the U.S. government and further macro-financial assistance from the European Union.
UNIAN memo. The IMF in March 2015 approved the Extended Fund Facility lending program, totaling $17.5 billion, for a four-year period. Ukraine received the first tranche of the program, amounting to $5 billion, on March 13, 2015, the second, worth $1.7 billion, was allocated on August 4, 2015.
Till date, the parties have agreed on all issues regarding the second review of the reform agenda and discussed various monetary issues, banking, anti-corruption policy, pension reform, and privatization.
However, a memorandum stipulating further obligations of the parties has not been signed yet.
Earlier, the Ministry of Finance suggested that the IMF Executive Board meeting on the Ukrainian issue would be held by the end of July. The Finance Ministry expects that the IMF will make a decision on Ukraine within the timeframe initially agreed upon. If the meeting does not take place in late July, it may be rescheduled for late August or September, according to reports.
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