: Bloomberg: Ukraine bailout set to be unlocked in June

11:45 May. 18, 2016

Bloomberg: Ukraine bailout set to be unlocked in June

The logo of the International Monetary Fund (IMF) is displayed out the headquarters in Washington, D.C., U.S., on Monday, May 16, 2011. (Getty Images)

Ukraine may get USD 1.7 bln from IMF by mid-year

Ukraine's stalled USD 17.5 billion bailout will probably be unlocked at the end of next month, though the national currency is unlikely to benefit as capital controls will also be relaxed, according to the deputy central bank governor in charge of foreign-exchange policy.

Read also IMF starts working in Ukraine

A third USD 1.7 billion disbursement, held up for eight months because of wrangling over the budget and political turmoil that ushered in a new prime minister, is possible days after approval from the International Monetary Fund, Oleg Churiy said in an interview. Ukraine hasn't discussed combining the third and fourth payments of the rescue loan, he said.

"If all issues are resolved, the IMF board decision could come in late June," Churiy said Monday in his office in Kyiv. "The tranche could then arrive within a few days."

Read also Ukraine may get USD 1.7 bln from IMF by mid-year – Moody's

Faced with a fragile economic recovery and anger over the slow pace of reforms, Prime Minister Volodymyr Hroisman has made resuming cooperation with the Washington-based lender a priority. Parliament is starting this week to debate 19 laws required by the IMF, including bills on privatization and regulation. Restarting the loan will help release billions of dollars more in aid from allies such as the U.S. and the European Union.

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