Ukrainian National Bank Hopes To Receive 5th IMF Credit Tranche In Fall - Deputy Governor

Faizan Hashmi Published August 14, 2018 | 10:11 PM

Ukraine might receive another tranche of loans from the International Monetary Fund (IMF) in fall if the work of the IMF mission which is due to visit Kiev in September is successful and the two parties manage to reach a consensus, Oleg Churiy, the deputy governor of the Ukrainian National Bank, said on Tuesday.

KIEV (UrduPoint News / Sputnik - 14th August, 2018) Ukraine might receive another tranche of loans from the International Monetary Fund (IMF) in fall if the work of the IMF mission which is due to visit Kiev in September is successful and the two parties manage to reach a consensus, Oleg Churiy, the deputy governor of the Ukrainian National Bank, said on Tuesday.

The visit of the IMF mission to Ukraine is scheduled for September 6-19. The two parties are expected to discuss the latest economic developments as well as future cooperation, in particular, the IMF financial assistance to the country in order to ensure its macroeconomic stability and sustainable growth. On Monday, the Ukrainian Finance Ministry said it planned to discuss the continuation of cooperation with the IMF after the termination of the fund's four-year support program (2015-2019).

"If the IMF mission is successful, if Ukraine manages to reach a consensus with the IMF, we can receive [the IMF] board's positive decision [on the allocation of another tranche of credit] in fall and, I believe, we can receive the tranche in fall as well," Churiy told the Ukrainian NV radio station.

He added that market-based gas pricing for domestic consumers and the issue of state budget were the two problems that the two parties should agree on during the IMF mission's visit.

The IMF 2015-2019 aid program under the Extended Fund Facility (EFF) provides for the allocation of $17.5 billion to Ukraine. Ukraine has already received four tranches of credit and expected to receive the fifth one in December, however, it has not been allocated so far since Kiev has not met all the IMF requirements.