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Ukraine expects $1.7 billion from IMF

Staff writer |
Ukraine expects to receive three International Monetary Fund (IMF) loan tranches in accordance with a mutually agreed timetable by the end of 2016, Finance Minister Oleksandr Danylyuk said.

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In June, Ukrainian Prime Minister Volodymyr Groysman said that the country expects to receive a total of $1.7 billion from the IMF in 2016.

"We had a year-long break in cooperation with the IMF. And my main task as an authorized negotiator is to return to active cooperation with the IMF. The prime minister and the president fully support me in this.

"We have resumed cooperating, this is a clear signal from the IMF indicating that they support our plans and actions. We will further proceed in accordance with the timetable agreed on with the IMF.

"Our main concern is to implement our reform program and to finally bolster the country's economy. So we will receive three tranches by the end of the year," Danylyuk said in an interview with Ukraine's Zerkalo Nedeli newspaper.

On March 11, the IMF approved a four-year program of financial aid to Ukraine, which stipulates a $17.5 billion loan over the next four years. The Ukrainian government has to implement new economic policies for the IMF to disburse the funds.

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