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IMF says Ukraine will undoubtedly get next tranche

Posted by the Editor on April 30, 2009


News / 30 April 2009 | 15:33

IMF says Ukraine will undoubtedly get next tranche

International Monetary Fund (IMF) Mission Chief in Ukraine Ceyla Pazarbasioglu has said that there is no doubt that Ukraine will get the second tranche of the fund’s USD 16.4 billion loan, Ukrainian Vice Premier Hryhoriy Nemyria said after a phone conversation with the IMF mission chief, according to Ukrinform.

He said that yesterday’s reports in the media that the IMF could stop crediting Ukraine are untrue. Nemyria phoned Pazarbasioglu in the presence of journalists and she told him that the IMF Executive Board would consider the allocation of the next tranche to Ukraine at a meeting on May 13.

Following the first review of its program of cooperation with Ukraine, the IMF is planning to allocate USD 2.8 billion in the next tranche to the country, with half of these funds to cover Ukraine’s state budget deficit. The third tranche worth USD 2.8 billion is expected after a review of the program in mid May.

On November 5, 2008, the IMF decided to allocate USD 16.4 billion to Ukraine to help the authorities restore financial and economic stability and strengthen confidence amid the global financial crisis.In November 2008, Ukraine received USD 4.5 billion in the first tranche of the stand-by arrangement.

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