“We hope that we will determine the arrival time of the mission in the near future. It may be July-August,” Marchenko said.
On June 10, the IMF Board of Directors agreed on a new loan program for Ukraine in the amount of $ 5 billion and a term of 1.5 years. The first tranche of the fund should be $ 2.1 billion (which is $ 200 million more than previously expected).
After the allocation of the first tranche of $ 2.1 billion, four program revisions are planned - based on the economic results of June, September and December 2020, as well as the results of June 2021. These reviews will be completed on September 1 and December 1, 2020, as well as May 15 and October 15, 2021, respectively.
“Ukraine has just received $2.1 billion of the tranche from the IMF. Were you aware that the funds come not from the IMF directly but from the countries-members of the Fund? Since yesterday, the funds were transferred in dollars, euros, yens, pounds and yuans – currencies entering the SDS. The process is finished at the moment,” Smoliy wrote.
According to him, the first tranche along with the cash-flows of the financial aid tied with the EU increased the international reserves up to $28.7 billion.