Financial help to Ukraine: IMF is deciding on allowing the next tranche to Ukraine

12:26 Sep. 14, 2016

IMF is deciding on allowing the next tranche to Ukraine

IMF regional group meeting in Kyiv, June 4, 2016 (UNIAN Photo)

Kyiv is supposed to receive USD 1 billion

International Monetary Fund executive board is to decide on whether to provide a new tranche of the credit to Ukraine. The reform program was established in March 2015. According to the initial plan, Ukraine should receive USD 17,5 billion during four years, with quarterly revisions of the program. However, Ukraine received only the first two tranches. In 2015, allocating the next tranches was suspended due to a political crisis and the government change.

Read more Finance minister assures Ukraine 'very close' to getting next IMF tranche

After the new Cabinet, headed by Volodymyr Groysman, was established, the negotiations with IMF renewed. Today the Fund is going to assess how the reforms proceed. The decision on whether to allow the next tranche depends on the changes required by IMF.

Ukraine hopes for a positive decision. Yet, Russia already announced it is going to vote against providing financial help to Kyiv.

Receiving the tranche is a key condition to get more financial help: USD 1 billion of a loan guarantee from the USA, EUR 600 million loan from the EU and US 500 million loan from the World Bank.

Read more Further IMF bailout for Ukraine delayed (again) 

comments powered by Disqus

RELATED NEWS

Business19:08 Nov. 29, 2016
Three reasons to invest in Poland to reach the EU market
Business16:49 Nov. 25, 2016
EBRD willing to take stake in Ukraine's largest state bank
Business15:36 Nov. 24, 2016
Ukraine-IMF cooperation is at risk
Business12:01 Nov. 24, 2016
How Dutch business benefits from EU-Ukraine deal
Business21:21 Nov. 21, 2016
Naftogaz vs Gazprom: millions at stake
Ukraine Today WEEKLY DIGEST
Subscribe to receive regular email updates about Ukraine and Eastern Europe
vk154998