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IMF Board May Consider $1.7Bln Tranche for Ukraine in July

© AFP 2021 / MANDEL NGAN

14:33 GMT 19.05.2016(updated 15:18 GMT 19.05.2016) Get short URL

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https://sputniknews.com/europe/201605191039908986-ukraine-imf-money-tranche/

The International Monetary Fund’s board will consider disbursing $1.7 billion in assistance to Ukraine upon successful conclusion of the second review tentatively scheduled for July, IMF Communications Department Director Gerry Rice said in a press briefing on Thursday.

WASHINGTON (Sputnik) — On Wednesday, the IMF announced the board would consider the second review to disperse the next tranche of financial assistance to Ukraine in July if Kiev steps up reforms.

"So far as I know, it [IMF’s consideration] is for one tranche, not a bundling. I believe the number is around $1.7 billion," Rice stated.

IMF reaches staff-level agreement with Ukrainian authorities on policies needed to complete the second review of EFF https://t.co/FfrFk31aRj
— IMF (@IMFNews) 18 May 2016

The Fund added that the IMF mission to Ukraine has worked out a staff-level agreement with Kiev on the reforms needed to complete the second review, including efforts to ensure fiscal and financial stability, enhance transparency, and reform the inefficient state-owned enterprise sector.

Critical to implement structural/institutional reforms to turn Ukraine’s recovery into strong and sustainable growth https://t.co/Tott6S0RpA
— IMF (@IMFNews) 18 May 2016

On March 11, the IMF approved a four-year program of financial aid to Ukraine, which stipulates a $17.5 billion loan over the next four years. The Ukrainian government has to implement new economic policies for the IMF to disburse the funds.

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: Biden Urges New Ukraine PM to Move Forward on Reforms, IMF Commitments

Tags:

International Monetary Fund, tranche, Ukraine

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