Poroshenko expects on a new tranche in October / Photo from UNIAN
The International Monetary Fund can disburse another $1.7 billion tranche for Ukraine as early as in October, Ukrainian President Petro Poroshenko said during an extended government meeting on Tuesday.
"We have agreed with Ms. Lagarde [IMF chief], that it would be very nice if it was decided to allocate another $1.7 billion for Ukraine in October," President said.
He recalled that the IMF mission is to arrive in Kyiv on September 22. The mission is scheduled to work until early October. Meanwhile, Ukraine badly needs the funds that may be allocated following the mission’s work and the meeting of the Board of IMF Governors.
"These funds are needed urgently. They will ensure financial stability," said Poroshenko.
Earlier, Finance Minister Natalie Jaresko noted that the IMF tranche will only be used to replenish the country’s foreign exchange reserves.
As UNIAN earlier reported, Ukraine and the IMF are implementing a four-year $17.5 billion lending program. Ukraine received the first tranche under the program totaling $5 billion on March 13 - immediately after the approval of the program. IMF Executive Board approved on July 31 the second tranche of the loan in the amount of $1.7 billion. The funds were settled in the accounts of the National Bank of Ukraine on August 4 and transferred to Ukraine’s foreign exchange reserves.
The second revision of the program with a view to possible allocation of the third tranche is scheduled for this autumn.
The total amount of financial assistance Ukraine may receive from the IMF in 2015 is $10 billion.