: Ukraine and IMF to sign memo on next tranche ‘in few days' – Finance Minister

14:12 Jul. 2, 2016

Ukraine and IMF to sign memo on next tranche ‘in few days' – Finance Minister

Oleksandr Danyliuk, Ukraine's Minister of Finance (UNIAN Photo)

Date of the next tranche, expected to be USD 1.7 billion, remains unknown

Ukrainian Finance Minister Oleksandr Danyliuk said Saturday that coordination of the memorandum on the next tranche by IMF and Ukraine was "a matter of a few days". Danyliuk told that in an interview with Ukrainian news agency ZN.UA.

The agreement, which is the renewed document within the second revision of the Extended Fund Facility program, is expected to be soon approved by the IMF Executive board.

Read also: Ukraine may receive next tranche in July-August - IMF official

"We expect the vote of the IMF Executive board will take place mid-July. That's what we are counting on", Danyliuk said.

The Minister added, the sides had reached agreement at the technical level."The fact that we will soon sign the memorandum speaks for itself", he said.

It will be almost a year since Ukraine last received the money from the IMF. The program had been postponed due to the political crisis in the country, which resulted in the reboot of the government.

Read also: IMF predicts positive dynamics for Ukraine's GDP in coming years

Earlier Ivan Miklos, the senior economic adviser to Ukraine's PM Groysman, said the country's government would likely need to pass more reform to get the expected USD 1.7 billion funds. He stated, the tranche could be delivered in two parts – in July and autumn.

The four-year Extended Fund Facility program worth about USD 17.5 billion originally foresaw quarterly reviews of the program, the disbursement of four tranches to Kyiv in 2015, and another four in 2016. However, at present, the country received only the first tranche worth USD 5 billion on March 13, 2015, and the second one worth USD 1.7 billion arrived on August 4, 2015.

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