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The Board of Directors of the International monetary Fund (IMF) will provide Ukraine the next credit tranche of $1 billion About this in his Twitter said the President of Ukraine Petro Poroshenko.
“The IMF Board of Directors approved the decision on allocation to Ukraine of $1 billion Is further recognition of Ukrainian reforms!”, — wrote Poroshenko.
Information about the transfer to Ukraine of $1 billion, writes TASS, citing a source. “The meeting was held, the decision made,” he said. According to this, the discussion of the Ukrainian program was conducted without participation of the managing Director of the IMF Christine Lagarde. At this time she was in Washington, where he spoke at the American enterprise Institute a speech on the slowdown in productivity growth in the world economy, said the source Agency.
Previously, on 19 March, the IMF postponed the meeting, which was planned to take a decision on granting Ukraine the next tranche of $1 billion, Then the Fund’s management took a pause to “evaluation events”. “A short delay is necessary to assess the developments and policy measures affecting the financial sector and the broader economic Outlook,” he said.
Agreement on the allocation of Ukraine $1 billion, the IMF said on March 4. According to the head of the IMF mission in Ukraine Ron van Ruden, the IMF and Kiev agreed on the Memorandum of economic and financial policies.
The date of granting Ukraine the next loan tranche, President Poroshenko announced in mid-March. At the same time he expressed his pride in the fact that the current Ukrainian government was able to provide for the fourth tranche from the IMF. According to Poroshenko, all obtained from the IMF funds Ukraine holds in foreign exchange reserves, which amount to nearly $16 billion.
Two years ago, the IMF adopted a program of enhanced funding for four years. Its aim is to support economic reforms in Ukraine and the preservation of financial stability in the region. The total amount of funds allocated under this program shall be $17.5 billion.