Kyiv, April 14 – The International Monetary Fund (IMF) will made a decision on the provision of a first tranche of $3 billion to Ukraine on April 29, a candidate to the post of Ukrainian president and MP Petro Poroshenko has said.
“I’m sure that on April 29 the Stand-By Arrangement for Ukraine within the range from $14 billion to $18 billion will be approved, and the decision to issue a tranche of $3 billion to Ukraine will be made,” he said on the Zhytomyr regional television and radio broadcasting program on April 11.
“Additionally $1 billion will be received from the United States, as well as 1.6 billion euros from the European Union, and the general program worth up to $10 billion under various programs of various financial institutions from the EU and the United States,” he stated.
He said that the receiving of the said funds will create a favorable investment climate and the support of exports and the improvement of the balance of payment will support the hryvnia exchange rate and return it to the projected level.
Poroshenko also said that there are no economic grounds and arguments for the current hryvnia devaluation.
As reported, the hryvnia exchange rate on the interbank fell by 36.8 percent since early 2014, from Hr 8.285/$1 to Hr 13.1/$1, and on April 11 some quotations reached Hr 13.7-13.9/$1.
The Ukrainian Finance Ministry previously forecast that the average hryvnia exchange rate in 2014 could be Hr 10.5/$1.
