Finance Ministry proposes to IMF to combine tranches

The Finance Ministry approached the International Monetary Fund with a proposal to combine the third and fourth tranches of the stand-by loan and to allocate them as one payment.
Finance Minister Oleksandr Shlapak told journalists Wednesday, a Ukrinform correspondent reports.
“We proposed to combine the third and fourth loan applications to combine resources and to get them as one tranche so that the Mission will come to us in late October. They were going to come twice until the year end – we offer to do this once. We expect that this will be about USD 2.2-2.3 billion. We want to get them by the end of the year,” Shlapak said.
The Minister said that all tranches are tied to special drawing rights – a specific amount that is formed in accordance with what is the ratio in the currency basket.
To remind, the International Monetary Fund Mission will arrive in Ukraine in late August to decide on the allocation of the second tranche of the stand-by loan in the amount of USD 1.4 billion.

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