Kyiv expects a positive decision by the International Monetary Fund (IMF) on a Stand-By Arrangement (SBA) and hopes to get its first tranche worth $3 billion between May 5 and May 8, 2014, Ukrainian Finance Minister Oleksandr Shlapak said.
“We wait about $3 billion [in the first tranche]: $1 billion will [go] to the National Bank of Ukraine, $2 billion will cover the budget deficit. We expect this from May 5 to May 8,” he told reporters before a cabinet meeting.
On Wednesday the IMF Executive Board is expected to decide on a $16.8 billion loan for Ukraine under the two-year SBA, which will pave the way for further financial aid by international financial institutions, which will total up to about $27 billion.
