IMF tranche transferred to Ukraine: Ukraine received USD 1 bln tranche from IMF

18:42 Sep. 16, 2016

Ukraine received USD 1 bln tranche from IMF

US dollars (Photo by minfin.com.ua)

The panic on Ukrainian currency exchange market subsides by the end of the day

The International Monetary Fund has transferred to Ukraine the third tranche, UNIAN reports referring to the press service of the National Bank of Ukraine. According to the NBU, received funds amounting the equivalent of USD 1 billion came under the decision of the Board of Directors of the Fund, made public late at night on 14 September.

On September 15, the head of NBU Valeria Hontareva said she expected the arrival of the tranche from the International Monetary Fund on September 16. She specified that a part of the tranche would be in special deposit rights (SDR) and the remaining part in currency.

Although the loan amount to 1 billion euros is less than the Ukraine was planning to get, the decision of the IMF, official Kyiv is satisfied, for thus Ukraine will receive another USD 600 million loan from the European Commission and may place Eurobonds under guaranteeі of US government. NBU also hopes to get another USD 1.3 billion loan by the end of the year, TSN adds.

As Ukraine Today reported, the International Monetary Fund's Executive Board has approved a third disbursement to Ukraine under the Extended Fund Facility (EFF) program, Ukrainian President Petro Poroshenko has announced in the early hours of Thursday, September 15. The Ukrainian currency market has already positively reacted to the news.  

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