Ukraine expects a second tranche of loan from IMF

Tue, 19.08.2014 16:51

KYIV/Ukraine in arabic/ The Cabinet of Ministers has approved a revised draft letter of intent of the government and the National Bank of Ukraine (NBU) to the International Monetary Fund (IMF) and a draft memorandum of economic and financial policies.

A respective order, No. 730 of August 18, was posted on the government Web site on Tuesday, but the text of the documents has not yet been published.

Prime Minister Arseniy Yatseniuk, referring to the agreements reached, said that the IMF Executive Board plans to consider the allocation to Ukraine of the second tranche of a stand-by loan by August 29.

"I hope that by the end of this month, on the 29th [of August], the IMF Executive Board will make the decision on the further disbursement of funds," he told reporters on Tuesday during his visit to agricultural enterprises in Cherkasy region.

Yatseniuk said that the second tranche of the IMF loan would help stabilize the situation with the hryvnia exchange rate, while refusing to comment on the current situation on the market, since it is the prerogative of the National Bank of Ukraine.

He said the government was doing all it could to ensure stability and a stable exchange rate of the national currency in the country.

As reported, the IMF Executive Board on April 30 approved a two-year Stand-By Arrangement worth about $17.01 billion for Ukraine, with $7.4 billion to be disbursed in 2014, $7.1 billion in 2015 and $1.1 in 2016.


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