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Ukraine hopes to receive $2.7 billion from IMF

Staff Writer |
The National Bank of Ukraine (NBU) expects to get two credit tranches totaling $2.7 billion from the International Monetary Fund (IMF).

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The loan is under the Extended Fund Facility (EFF) program by the end of the year, NBU Governor Valeriya Gontareva has said.

"We have downgraded the forecast. Unfortunately, we don't think we have time to get the third tranche by the end of the year, so we just moved it to the next year," she said at a press conference in Kyiv.

As reported, the four-year EFF program for Ukraine totaling SDR 12.348 billion (about $17 billion at a current exchange rates), opened by the IMF in March 2015, originally foresaw quarterly revisions of the program, as well as the issue of four tranches to Kyiv in 2015, with another four in 2016.

However, at present the country has received only the first tranche of funds for $5 billion and the second one worth $1.7 billion.

Earlier in July, Ukrainian Finance Minister Oleksandr Danyliuk has said Ukraine could receive $4.3 billion by the end of this year.

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