Ukraine will not receive IMF tranche before April

Source : 112 Ukraine

According to the deputy head of the National Bank of Ukraine, it is hard to predict the perspectives of cooperation with the International Monetary Fund
12:24, 30 January 2018

Open source

Ukraine will not manage to receive the tranche of the International Monetary Fund in the first quarter of 2018. The deputy head of the National Bank of Ukraine Dmitry Solohub said this in his interview for Segodnya.

“Our official prognosis that we did back in October was that Ukraine would received two tranches in 2018. In the first and third quarter of the year. However, it is not realistic to talk about the first quarter anymore, even from the technical point of view. The procedures are very serious there,” he stressed.

Solohub also noted that cooperation with the IMF depends from the legislative process in Ukraine.

“IMF has very distinctly determined its demands and the ball now is on Ukraine’s side,” the NBU deputy head said.

Solohub believes that this cooperation is crucial for Ukraine so that the country smoothly gets through 2018-2019 period.

Related: Now less loyal: IMF to abandon its "political" tranches to Kyiv

As it was reported earliler Ukraine expects to fulfill all of its obligations under the IMF’s Extended Fund Facility before May 2018, which will help receive the next tranche of the loan, Ukraine’s Minister of Finance Oleksandr Danyliuk has said on January 25.

Among the most important conditions, Danyliuk mentioned the adoption of the law on Anti-Corruption Court and the appointment of the Head of the National Bank of Ukraine.

The four-year EFF program launched by the IMF in March 2015, amounting to of around $17.25 billion, initially envisaged quarterly reviews of the program. The first tranche of $5 billion, and the next three of around $1.65 billion each to be paid throughout 2015, and smaller quarterly tranches of $0.61 billion in 2016-2018.

Related: Ukrainian Finance Ministry expects more than two IMF tranches in 2018

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