Ukraine expects USD 7 billion-large IMF loan, - Poroshenko
The President said the country expects to get the loan throughout 2016
Ukraine expects to get the IMF loan in the amount of 7 billion US dollars this year. President Petro Poroshenko said this in an interview with CNN’s Richard Quest.
Previously, during the World Economic Forum, Poroshenko said Ukraine expects the next IMF loan in February. After Thursday meeting with Poroshenko on the sideline of the Forum, the Fund’s Managing Director Christine Lagarde said there are good prospects for that.
The four-year EFF program totaling about $17 billion opened in March 2015.The first tranche of $5 billion originally foresaw a quarterly revision of the program, the issue of another three tranches of about $1.5 billion each in 2015 and the decrease in quarterly tranches in 2016-2018 to $610 million.
Ukraine has so far received two IMF loans. Part of the sum went to cover the government expenses. Making the decision on providing the next loan, the IMF will assess how much of its commitments Ukraine fulfilled by late 2015. In case of positive decision, Ukraine might get the next loan in February 2016.
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