Ukraine's Finance Ministry expects US$2 bln disbursement from IMF in May or June

Updated

The National Bank of Ukraine forecasts the arrival of the tranche in July 2018.

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Ukraine's Finance Ministry says it expects a new disbursement from the International Monetary Fund (IMF) in May or June this year; it may amount to US$2 billion.

Ukrainian Finance Minister Oleksandr Danyliuk says that the Ukrainian authorities should address several issues, including the adoption of a law on the anti-corruption court, to clear the way for this tranche.

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"This should be the law that could be implemented effectively and quickly – this is a key issue," the minister said on TV, the Ukrainian Finance Ministry's press service said.

As UNIAN reported earlier, the National Bank of Ukraine forecasts that the next tranche from the IMF may arrive at the beginning of the third quarter this year.

In March 2015, the IMF approved a four-year Extended Fund Facility (EFF) loan program for Ukraine under which US$17.5 billion will be disbursed. Under the program, Ukraine has already received four disbursements from the Fund to the tune of US$8.7 billion. The program is expiring in March 2019.

On January 26, 2018, Ukrainian President Petro Poroshenko announced Ukraine had fulfilled 80% of requirements under the program and the fifth disbursement might arrive in April.

The IMF says that to complete the fourth review of cooperation under the EFF to receive the fifth tranche, Ukraine needs to ensure that the pension reform is consistent with the objectives of cooperation, as well as to pass a law on privatization, bring gas tariffs in line with import parity, create an anti-corruption court, and ensure the deficit of the 2018 budget does not exceed 2.5% of GDP.

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