Photo from UNIAN
Ukrainian President Petro Poroshenko says a new loan tranche from the International Monetary Fund (IMF) and a loan from Switzerland will help stabilize Ukraine's financial system and forex rate in the country.
The IMF loans will be used to replenish Ukraine's forex reserves, the president said in an interview with Ukrainian TV channels on Sunday.
"At the end of the agenda [of meetings in Davos last week] I had a very constructive meeting with the President of the Swiss Confederation, and we solved those problems that had remained unsolved for a year. I had agreed at the previous meeting in Davos on a $200 million loan for Ukraine by Switzerland, but we could not approve the wording of loan documents for a year," Poroshenko said.
"We have agreed, and the [Swiss] president has confirmed that Ukraine is to receive $200 million, which will also be channeled into our gold and forex reserves," the president noted.
"And this means the forex rate, the stability of the financial system, the currency, which is crucial for us, given turbulences in the commodity markets," he said.
As UNIAN reported earlier, the president also announced that Ukraine was expecting the disbursement of the third IMF loan to the tune of $1.7 billion in the near future.