The National Bank of Ukraine (NBU) reveals its prognosis on the continuation of the cooperation with the International Monetary Fund (IMF) and expects the next tranche on the EFF program in the first quarter of 2018. Acting Head of the NBU Yakiv Smoly as Interfax-Ukraine reported.
‘It will allow increasing the international reserves up to 22.1 billion dollars until the end of 2018 along with the proficit of the net liquidity balance’, Smoly said.
According to the updated prognosis of the center bank, it increased the estimation of the deficit of the current account from 4.1 billion dollars up to 4 billion dollars in 2017 and for the next year from 4.6 billion dollars up to 4.2 billion dollars and decreased the estimation from 3.9 billion dollars up to 4.2 billion dollars for 2019.
At the same time, the estimation of the international reserves of the NBU decreased to 20 billion dollars from 18.6 billion dollars at the end of 2017, from 27.1 billion dollars to 22.2 billion dollars for 2018 and from 25.7 billion dollars to 21.2 billion dollars for 2019.
Talking about the cooperation with the IMF, according to Smoly, the visit of the IMF mission is expected in November. ‘We expect the IMF mission in November. It will be connected with the reconsideration and analysis of the budget for 2018’, he said. Smoly also added that the mission should arrive in Ukraine after the consideration of the state budget for 2018 in the first hearing.