“We expect the IMF Board of Directors on Friday, July 31, and next week, that is in a few bank days, we should receive $1.7 billion in Ukraine’s National Bank reserves,” Jaresko told journalists.
The IMF approved $17.5 billion to stabilize Ukraine's economy on March 11 in exchange for Kiev's commitment to implement complex reforms. So far, Ukraine has received the first tranche of $5 billion and plans to receive another $10 billion by the end of 2015.
Steeped in deep recession and inflation from conflict with independence supporters in the southeast of the country, Ukraine increasingly relies on outside help to reanimate its ailing economy.
Jaresko, who has said earlier that Ukraine could default on its over-$70-billion national debt, told reporters she expected a response from its international creditors on Kiev’s debt restructure proposals sometime this week.
A Ukrainian presidential spokesman said earlier an IMF Executive Board session was scheduled for Friday, July 31, while Prime Minister Arseniy Yatsenyuk said Kiev had accomplished all the IMF requirements.
Last week, the crisis-hit country secured $800 million in loans from the World Bank and Japan as part of their concomitant pledges of $2 billion and $1.5 billion respectively.
