Ukraine has fulfilled all criteria of a program for cooperation with the International Monetary Fund (IMF) and hopes for the successful completion of the work of the fund's mission on its first revision and the allocation of a second tranche worth $1.5 billion, Ukrainian Prime Minister Arseniy Yatsenyuk has said.
“Today I will have a meeting on the allocation of the second tranche of the IMF loan worth $1.5 billion for the stabilization of the economic situation in the country. I hope our talks will be successful,” he said, while opening a Cabinet of Ministers meeting in Kyiv on Wednesday, July 9.
As reported, the IMF Executive Board on April 30 approved a two-year SBA worth SDR 10.976 billion (about $17.01 billion) for Ukraine. Early in May, the IMF transferred the first tranche worth SDR 2.058 billion (about $3.2 billion), with SDR 1.29 billion (about $2 billion) allocated to the Ukrainian government for budget support.
The second-fourth disbursements scheduled for July 25, Sept. 25 and Dec. 15, 2014, respectively, will total SDR 914.7 million each, while the fifth-eighth quarterly disbursements of 2015 will amount to SDR 1.372 billion each. The ninth disbursement of SDR 686 million will be provided in mid-March 2016 if the terms and conditions stipulated in the program are observed.
The IMF mission arrived in Kyiv on June 24. It extended its work until July 9, 2014.
