01:57 GMT +321 August 2019

Ukraine President Petro Poroshenko

Ukraine to Receive Next $1.7-Bln IMF Tranche in Nearest Future - Poroshenko

© AFP 2019 / ALAIN JOCARD

21:33 24.01.2016(updated 21:45 24.01.2016) Get short URL

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According to the Ukrainian president, Ukraine will receive the next $1.7 billion from the IMF in the nearest future.

KIEV (Sputnik) — Ukraine will receive the next $1.7 billion from the International Monetary Fund (IMF) in the nearest future, Ukrainian President Petro Poroshenko said on Sunday.

"Our gold and currency reserves should receive $1.7 billion in the nearest time," Poroshenko told reporters.

On Thursday, after holding a meeting with the IMF head, Christine Lagarde, Poroshenko announced that Kiev was expecting to receive the next tranche from the fund in February.

The seal of the International Monetary Fund is seen on a headquarters building in Washington

© AFP 2019 / MANDEL NGAN

Ukraine Finance Minister Expects IMF to Approve Third Tranche to Kiev

In March 2015, the IMF approved a four-year $17.5-billion assistance package to Ukraine to revive the country's economy and encourage a series of reforms. Kiev has already received two tranches under the financial-aid program.

Economic situation in Ukraine has been deteriorating since a coup in February 2014. The country's GDP fell by 6.8 percent in 2014, while inflation reached 24.9 percent. According to the IMF projections for 2015, Ukraine's GDP was expected to fall by 9-11 percent and inflation to amount to 46 percent.

Related:: Ukraine's 2016 Budget No Guarantee for Next Tranche From IMF - Minister

: European Stability Mechanism Authorizes $1Bln Tranche to Greece

: Greece Makes Progress in Talks With Lenders Awaiting New Aid Tranche

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International Monetary Fund, tranche, Petro Poroshenko, Ukraine

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