REUTERS
Ukraine’s Finance Ministry expects the Board of the IMF Governors to decide on disbursing the next tranche of financial assistance in the near future.
Ukraine has signed a Letter of Intent following the first review of the IMF program under EFF arrangement and submitted it to the Managing Director of the Fund, Deputy Minister of Finance Artem Shevalev wrote in Facebook.
"The president, prime minister, finance minister and the head of the National Bank of Ukraine (NBU) signed a Letter of Intent regarding the Memorandum of Economic and Financial Policies based on results of the first review of the IMF program under EFF arrangement and sent it to the Managing Director of IMF," he wrote.
The Board of IMF Governors is expected to decide on allocation of a second tranche in amount of $1.7 billion in July. The funds will be channeled solely for consolidation of the NBU foreign exchange reserves.