REUTERS
The International Monetary Fund, Ukraine's largest lender, which decided on a third US$1 billion disbursement to Ukraine on September 14, may consider a new disbursement by the end of the current year.
"On the next review [of the Extended Fund Facility] and next disbursement – that could be by the end of the year. I don't have the exact date," Director of the IMF Communications Department Gerry Rice said at a briefing in Washington.
He explained a reduction in the sum of the third disbursement to $1 billion from the earlier announced $1.7 billion by "re-phasing."
"Re-phasing of the disbursement – a particular amount of the disbursement – is not unusual in our programs. We have these reviews precisely to calibrate policy recommendations and make sure that the financing is aligned with the balance-of-payments needs and with the policy implementation," he said.
As UNIAN reported earlier, the IMF's Executive Board on September 14 completed the second review of Ukraine's economic program supported by an arrangement under the EFF.
"The completion of this review enables the disbursement of SDR 716.11 million, or about $ 1 billion, which would bring total disbursements under the arrangement to SDR 5,444.21 million (about $7.62 billion," the IMF said in a statement.
In completing the review, the Executive Board approved waivers for the nonobservance of performance criteria related to net international reserves, non-accumulation of external payments arrears and non-introduction of new exchange restrictions.
Read alsoIMF tranche to go to NBU reserves – Finance MinisterThe IMF's funds are expected to arrive in Ukraine soon. According to some reports, it may happen on September 16. They will be funneled into the replenishment of Ukraine's gold and forex reserves.