NBU expects 2 loan tranches from IMF in 2016, totaling $2.3 bln
The National Bank of Ukraine (NBU) expects to receive the third loan tranche from the International Monetary Fund (IMF) worth $1 billion in mid-September, following a meeting of the IMF Executive Directors on Ukraine's issue, which has been scheduled for September 14.
"It is $1 billion in the SDR equivalent. Funds are usually received within 2-3 days after the Board's decision, which means very fast. In case of a favorable decision, we will receive funds as early as mid-September," NBU Deputy Governor Oleh Churiy told reporters.
Ukraine expects IMF approval of loan tranche - Finance MinisterAccording to Churiy, the IMF loan will unlock other financial support for Ukraine. In particular, Ukraine could receive $1 billion to its budget, which would be guaranteed by the United States, along with EUR 600 million of macro-financial assistance from the European Union.
The NBU expects that this year Ukraine will receive two tranches from the IMF totaling $2.3 billion.