23:42 GMT +325 September 2017
Live
    International Monetary Fund (IMF)

    IMF Can Disburse Additional $4.4Bln to Ukraine in 2017 if Reforms Progress

    © AP Photo/ Itsuo Inouye
    Business
    Get short URL
    317829

    The International Monetary Fund (IMF) can complete three more reviews of the program for Ukraine this year and disburse $4.4 billion, if Kiev delivers on scheduled reform progress, IMF Communications Department Director Gerry Rice said in a briefing on Thursday.

    WASHINGTON (Sputnik) — On Wednesday, the fourth tranche of the International Monetary Fund credit of $1 billion to Ukraine has entered the reserve of the National Bank of Ukraine.

    "In principle, we could have three more reviews completed this year, if everything goes according to plan. This depends on the authorities' ability to deliver on time…Those three reviews, if completed, could lead to further disbursement of about $4.4 billion this year," Rice told reporters.

    On Monday, the IMF authorized a $1 billion tranche in financial aid to Ukraine as the country’s economy is slowly recovering. At the same time, the IMF stressed in a press release on Tuesday the need to speed up the pace of structural and governance reforms in Ukraine to achieve stronger economic growth.

    The IMF approved a four-year program of financial aid to Ukraine in March 2015. Kiev has already received three tranches of aid totaling $7.7 billion under the program, which stipulates the allocation of a $17.5-billion loan to Ukraine to revive the country's economy and requires the implementation of economic reforms.

    Related:

    Ukraine National Bank Receives $1-Bln IMF Tranche - Finance Minister
    Ukraine May Receive Next IMF Tranche in May
    Poroshenko: IMF Executive Board Approves $1Bln Tranche to Ukraine
    IMF to Review Next $1 Bln Loan Disbursal to Ukraine on Monday - Finance Minister
    Tags:
    International Monetary Fund, Ukraine
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment