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Governor of the National Bank of Ukraine (NBU) Kyrylo Shevchenko has said Ukraine expects to receive US$2.2 billion across three tranches from the International Monetary Fund (IMF) in 2021.

"We expect three tranches, SDR 0.5 billion each, for a total of about US$2.2 billion this year, and the rest of the money in 2022," he told Reuters on January 1.

According to Shevchenko, the IMF mission's work is underway in Ukraine.

"Based on the results of this week it will be clearer what agreements we are reaching," he said when asked whether Kyiv could anticipate receiving money by the end of the first quarter.

Shevchenko stressed that the central bank was fulfilling its IMF commitments, playing down concerns over the central bank's independence that were spotlighted last year when his predecessor Yakiv Smolii resigned citing political interference.

Read alsoIMF mission's work extended for another 7-10 days – finance ministerHowever, the parliament may need to pass some bills as conditions for more loans, he said, without specifying which ones.

The chief banker added that the government plans to issue eurobonds worth about US$2.4 billion in 2021. The central bank also expects foreign portfolio investors will bring in about US$1 billion by buying government bonds in the domestic market this year.

Background

On January 14, 2021, Ukrainian Prime Minister Denys Shmyhal held a constructive meeting with the IMF representatives on natural gas prices in Ukraine.

On January 15, 2021, the International Monetary Fund expressed concern over a fixed gas tariff Ukraine's government introduced recently because this is in fact government regulation.