International Monetary Fund (IMF) is visiting Kyiv from September 6 through 19, 2018, to discuss the latest economic developments and economic policy and the following steps, including financial aid. Goesta Ljungman, Permanent Representative of IMF in Ukraine claimed this, according to the press office of the Fund.
At the request of the Ukrainian authorities, the IMF mission will visit Kyiv from September 6 through 19, 2018, to discuss the latest economic developments and economic policy. The mission will also discuss the following steps including financial aid of IMF for policy support, aimed at the maintaining of macroeconomic stability and economic development towards sustainable and inclusive growth,’ Ljungman claimed.
Ukraine cooperates with the IMF since 1992. Kyiv got nine tranches during this time.
Ukraine partially repaid the IMF under the stand-by program of 2014. Kyiv repaid two tranches - $37 billion and $87 billion.
The loan program for Ukraine in the amount of $17,01 billion was approved by the IMF at the end of April 2014. The first tranche of the stand-by loan in the amount of $3,19 billion was sent to Ukraine at the beginning of May.
The IMF Board of Directors approved the allocation of $17,5 billion for Ukraine in March 2015 by the EFF (Extended Fund Facility) four-year program instead of the stand-by program.
The stand-by program was replaced by the “scheme of extended funding” due to the long-term need of Ukraine’s pay balance.
Ukraine received the first $5 billion tranche under this program in March of 2015, the second one – $1,7 billion in August of 2015, the third one - $1 billion in September of 2016, and the fourth one - $1 billion in April of 2017.