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IMF to allocate about $ 1 billion for Ukraine
09:56, 15 September 2016
IMF to allocate about $ 1 billion for Ukraine

IMF calls it a compromise decision

09:56, 15 September 2016

gazprom.ru

The IMF Executive Board decided to allocate $ 1 billion for Ukraine. Next tranche of financial assistance was adopted with the exceptions to the general rules, given the current economic situation in the country. This is stated in the official report of the Foundation with the results of the board meeting, Ukrinform reports.

"The Executive Board approved an exception with respect to non-compliance with performance criteria related to the international reserves, the lack of accumulation of external payments arrears and new foreign exchange restrictions", reads the report.

Related: Cooperation with IMF will encourage acceleration of economic growth in Ukraine

The Fund made it clear that Ukraine will receive 716110000 SDR (about 1 billion US dollars), and the total amount of payments under the agreement on lending reached 5,444.21 million SDR (about 7.62 million US dollars).

Prime Minister of Ukraine Volodymyr Groysman welcomes the decision of the International Monetary Fund to allocate to Ukraine the next tranche.

Related: IMF Directors Board to discuss providing financial aid for Ukraine

"Tranche Fund is not just the financial assistance, which is necessary to the economy, it is also a signal to foreign investors that the economy of Ukraine can and should be invested in. And with the investments will come the job opportunities", he wrote.

He also noted that the stabilization of the economic situation allows Ukraine to pose the question of raising social standards, "and last week, during the formation of the budget, we have offered such decisions".

Recall that the International Monetary Fund was to consider the possibility to loan Ukraine 1 billion U.S. dollars on September 14. Russia considers groundless the statement by the IMF that Ukraine has fulfilled all conditions to get the next tranche and shall vote against it.

Source: Ukrinform

Related: Finance Minister: ‘Ukraine very close to getting another IMF loan’

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