Repaying debts: Ukraine transfers US$451 mln to IMF since early May

Ukraine has transfer about US$451 million to the International Monetary Fund (IMF) since the beginning of May 2018 to repay debts.

The repayment made in Special Drawing Rights (SDR) was split into two transfers in the U.S. dollar's equivalent: $83 million on May 1 and $368 million on May 4, the press service of the National Bank of Ukraine (NBU) told UNIAN.

Read alsoFitch gives its forecast when Ukraine gets $1.9 bln disbursement from IMF

UNIAN memo. 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.

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.

The NBU projects that a new IMF disbursement worth US$2 billion will arrive at the beginning of the third quarter of 2018.