REUTERS
The International Monetary Fund's Executive Directors will decide on the disbursement of the next loan tranche to Ukraine at their July meeting and its amount will reportedly reach $1 billion, Governor of the National Bank of Ukraine (NBU) Valeria Gontareva told reporters on June 23.
"The meeting of the IMF Executive Directors will be held in July. The amount of the tranche we are expecting to receive will reach $1 billion," Gontareva said.
The NBU governor also informed that the signing of the updated Memorandum between Ukraine and the IMF is expected in the near future.
Ukrainian Prime Minister Volodymyr Groysman previously stated that Ukraine could receive a $1.7 billion loan tranche from the IMF under the Extended Fund Facility (EFF).
Read alsoUkraine to issue $1 bln worth of eurobonds with U.S. loan warranty in Aug – sourceAs UNIAN reported earlier, the four-year EFF program worth about $17.5 billion originally foresaw quarterly reviews of the program, the disbursement of four tranches to Kyiv in 2015, another four in 2016. However, at present, the country has received only the first tranche worth $5 billion on March 13, 2015, and the second one worth $1.7 billion arrived on August 4, 2015.
The sides have already agreed on a wide range of issues under the second [program] review, including various aspects of monetary, banking and anti-corruption policies, the pension reform and the privatization process. The updated memorandum that would stipulate the parties’ further obligations under the EFF has not been signed yet.
The IMF Executive Directors are expected to make their decision on the Ukrainian issue in July.