Photo from UNIAN
The third loan tranche from the Intentional Monetary Fund (IMF) that Ukraine expects to receive in the framework of the four-year Extended Fund Facility program will help increase the reserves of the National Bank and provide greater stability to the banking sector and currency, the Finance Ministry's press service reported referring to Finance Minister Natalie Jaresko.
"We discussed the final text of the revised Memorandum between Ukraine and the IMF, and the next steps in our reforms program. After final agreement of the text, we look forward to a successful review by the IMF Board and the release of the third tranche. This should increase the reserves of the National Bank and will provide greater stability to the banking sector and currency," Minister Jaresko noted following the meeting with IMF Managing Director Christine Lagarde.
As UNIAN reported earlier, Lagarde noted that the meeting of the IMF Executive Board on the Ukrainian issue could be held in the near future. In turn, Ukrainian President Petro Poroshenko said that Ukraine expects the disbursement of loan funds in February.
Read alsoJaresko discusses steps for 3rd loan guarantee from U.S. in DavosIt is noted that the receipt of the third tranche by Ukraine is very important because it unlocks further financial assistance from other Ukraine's creditors like the World Bank, EU and the U.S. According to Prime Minister of Ukraine Arseniy Yatsenyuk the third tranche worth about $1.7 billion will enable Ukraine to gain access to funding from other sources to the tune of $2.3 billion.