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Economy 2019-03-15T04:08:19+02:00
Ukrainian news
NBU Expects 2 Tranches Of USD 1.3 Billion Each From IMF In 2019

NBU Expects 2 Tranches Of USD 1.3 Billion Each From IMF In 2019

The National Bank of Ukraine (NBU) expects Ukraine to receive two tranches from the International Monetary Fund (IMF) of USD 1.3 billion each in 2019.

The head of the National Bank of Ukraine Yakiv Smolii said this at a press conference, Ukrainian News Agency reports.

Smolii recalled that according to the current cooperation program with the IMF, Ukraine received the first tranche in December 2018 in the amount of USD 1.4 billion.

According to him, according to the program, the National Bank expects two more tranches in the current year of USD 1.3 billion each.

The revision of the program is scheduled for May and September of this year.

As Ukrainian News Agency earlier reported, in late April 2014, the IMF approved a credit program for Ukraine for USD 17.01 billion, and in early May provided the first tranche of a stand by loan in the amount of USD 3.19 billion.

On March 11, 2015, the Board of Directors of the International Monetary Fund approved the allocation of USD 17.5 billion to Ukraine under the 4-year EFF (Extended Fund Facility) program instead of the stand by program.

The IMF decided to change the previous stand by program to the “extended financing mechanism” due to the longer need for the balance of payments of Ukraine.

In October 2018, Ukraine and the IMF agreed on a new stand by program.

The new program with the requested access of USD 3.9 billion will serve as the basis for the economic policy of the government in 2019.

It will focus on continuing financial consolidation and lowering inflation, as well as reforms to strengthen tax administration, the financial sector and the energy sector.

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