: :inin Kyiv (EET)

Finance Minister tells when 4th IMF tranche to be allocated

The Finance Ministry expects a loan tranche from the IMF to be allocated within a few days after the meeting of the Executive Board, according to Finance Minister Oleksandr Danyliuk.

The Ministry of Finance of Ukraine expects that the fourth bailout tranche in the amount of $1 billion under the Extended Fund Facility, approved with the IMF in March 2015, will be allocated a few days after the meeting of the Fund`s Executive Board, which will be held on March 20, Oleksandr Danyliuk told reporters on Friday.

”The meeting of the IMF Executive Board is scheduled for March 20. This means that the tranche will be received within several days from the adoption of a relevant decision,” he said.

Danyliuk also noted that the memorandum with the IMF includes no requirement to raise the retirement age in Ukraine, but there is a provision calling for the creation of a balanced pension system.

In early March, Ukraine and the IMF agreed an updated Memorandum of Cooperation. As Prime Minister Volodymyr Groysman noted, IMF`s key recommendations to Ukraine will be the implementation of pension reform and the introduction of land turnover.

Moreover, within the framework of the pension reform, Ukraine did not undertake an obligation to raise the retirement age.


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