Economy 2022-06-15T08:17:16+03:00
Ukrainian news
Finance Ministry Expecting Tranche Of USD 1 Billion From IMF In Early February 2017

Finance Ministry Expecting Tranche Of USD 1 Billion From IMF In Early February 2017

IMF, tranche, Danyliuk, Finance Ministry, Extended Fund Facility program

The Finance Ministry of Ukraine is expecting the next tranche of USD 1 billion from the International Monetary Fund within the Extended Fund Facility program early in February 2017.

Finance Minister Oleksandr Danyliuk announced this in an interview for Reuters, Ukrainian News Agency reports.

Minister Oleksandr Danyliuk said Ukraine continued to reform its economy and adopted the 2017 state budget with a deficit not exceeding 3% of GDP as required for receiving tranches from the International Monetary Fund.

The minister said he was expecting the tranche early in February 2017.

"We are expecting to receive close to USD 1 billion," he said.

Finance Minister Oleksandr Danyliuk also said that the United States planned to provide Ukraine with guarantees worth USD 1 billion.

As Ukrainian News Agency earlier reported, the International Monetary Fund approved disbursement of USD 1 billion to Ukraine as the third loan tranche in September 2016.

In its updated memorandum of cooperation with the International Monetary Fund, Ukraine pledged to implement land reform and adopt a law that provides for gradually raising the retirement age for citizens.

In early October 2016, the Verkhovna Rada extended the moratorium on sale of agricultural land by one year until January 1, 2018.

The National Bank of Ukraine previously expected the International Monetary Fund to disburse USD 1.3 billion as the latest loan tranche to Ukraine.

The Cabinet of Ministers expects the fourth tranche of the International Monetary Fund's EFF loan, which Ukraine may receive in February, to amount to USD 1 billion.