News / 16 May 2011 | 16:38
Ukraine will get IMF’s third tranche only following pension and gas tariff reforms
The International Monetary Fund expects from Ukraine approval of the pension reform and settlement of the low gas tariffs problem for households in order to take a decision on allocation of the third tranche on the stand-by program, Resident Representative of the International Monetary Fund Max Alier informed, UKRINFORM reported.
According to him, in last July and December two tranches were extended. Now, negotiations are held about the third tranche, but first certain measures on the part of the government should be carried out. Primarily, the pension reform should be implemented, he has said today at the opening of the Seventh Ukrainian Investment Summit Adam Smith Conferences in London.
Earlier, National Bank Governor Serhiy Arbuzov has said that Ukraine expects to get a double tranche of the credit (about USD 3 billion) by results of H1.
He noted that if the principal issues, such as the pension reform and rising of gas tariffs were settled, Ukraine would have already received the credit.
As UKRINFORM reported, last July, the IMF agreed to cooperate with Ukraine on the new stand-by program, which provides for allocation of USD 15.6 billion. At that time, Kyiv got the first tranche, and last December, following the first revision of the program – the second. Their total number amounted to USD 3.4 billion.
The Fund Mission visited Kyiv in the first half of February, in order to examine achievements of the economic policy. IMF representatives came to a conclusion that for extending next tranche at USD 1.55 billion it is necessary to conduct additional negotiations.