REUTERS
Churii says all receipts would be credited to Ukraine's international reserves.
Deputy Governor of the National Bank of Ukraine (NBU) Oleh Churii says the regulator expects to receive by the end of 2018 about US$5 billion, including the next loan tranche from the International Monetary Fund (IMF), loans from the World Bank and the European Union, as well as funds from Eurobonds placement.
"We forecast we will be able to agree with the International Monetary Fund. We expect to receive the tranche of about $2 billion before the end of the autumn," he said at a roundtable in Kyiv on August 28.
The official has added that the IMF is a fairly formal organization. So, if the Fund announced the upcoming arrival of its mission in Ukraine, the chances of obtaining the next tranche are quite high.
In addition, he noted that the receipt of the IMF tranche opens the way for obtaining about $1.5 billion by the end of the year from the World Bank and European Commission. This will also be a positive signal for private investors and Ukraine will be able to place Eurobonds for a longer term and at lower interest.
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"We expect that the Finance Ministry will be able to place Eurobonds worth about $1.5 billion," the NBU deputy governor said.
Churii added that all receipts mentioned would be credited to Ukraine's international reserves.
UNIAN memo. In March 2015, the IMF approved a four-year EFF loan program for Ukraine under which $17.5 billion will be disbursed. Under the program, Ukraine has received only four disbursements from the Fund to the tune of $8.7 billion due to the slow implementation of the agreed reforms. The program is expiring in March 2019. However, the National Bank of Ukraine and the Finance Ministry expect to receive $1.9 billion from the IMF in 2018.
On July 12, the Verkhovna Rada adopted an amendment to the law on the judiciary, which provides for consideration by the High Anti-Corruption Court of all cases within its jurisdiction, including all new appeals on the relevant decisions, already rendered by first instance courts. It was the IMF which insisted on the amendment.
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In addition to adopting anti-corruption legislation, in order to continue cooperation with the Fund, the Government needs to revise gas prices and make appropriate adjustments to balance the current year's budget.
According to the statement by the permanent representative of the IMF in Ukraine, Goesta Ljungman, the Fund's mission will visit Kyiv on September 6-19.
Ukraine's total international reserves as of August 1, 2018, amounted to $17.749 billion, which was 5.6% down from the figure as of January 1, 2018.