Contents tagged with tranche

  • IMF: New tranche for Ukraine only possible once Ukraine has fulfilled its obligations

    The fourth revision of the International Monetary Fund’s (IMF) program as part of the Extended Fund Facility (EFF) will be possible only once the Ukrainian authorities have fulfilled the obligations they have taken on, said IMF permanent representative Gösta Ljungman.

    “A fourth revision of the IMF board of executive directors’ program will be possible only after the necessary measures are taken for completing this revision. It will focus on pension reform, on measures aimed at speeding up …

  • IMF: In order to obtain the fifth tranche, Ukraine must show results in the fight against corruption

    The International Monetary Fund listed the conditions for Ukraine to receive the fifth tranche of the IMF loan. According to the fund, Kyiv must approve pension reform, accelerate privatization, and show results in the fight against corruption, UNIAN reports.

    "Regarding the fourth revision, we expect that it will be possible after the legislation necessary for the revision is adopted," IMF Director of Communications, Gerry Rice said. "The key issues are pension reform, steps to accelerate …

  • Ukrainian PM: The IMF postponed its next loan tranche to Ukraine due to delays with land reform

    The next tranche of the loan from the International Monetary Fund for Ukraine will be postponed because parliament will not have time to consider all necessary reforms before the summer holidays, stated Prime Minister of Ukraine Volodymyr Groysman in an interview with Bloomberg.

    According to Groysman, the pension reform is on schedule and steps are being taken to create an anti-corruption court. However, a bill on land reform will not be submitted on time. This will delay the payment of the …

  • What the IMF demands from Ukraine in exchange for allocated tranche

    On April 3, the Board of Directors of the International Monetary Fund (IMF) approved the allocation of $1 billion credit to Ukraine. The four-year program of financial aid from the IMF allocates $17.5 billion to Ukraine. Kyiv has already received three tranches totaling $7.7 billion. The last tranche was received in September 2016. In 2017, Ukraine plans to receive about $5.4 billion from the IMF. And now the fourth tranche in the amount of $1 billion has begun to be transferred to the reserves …

  • Tranche allocation to Ukraine disappears from IMF timetable

    The allocation of money to Ukraine has disappeared from the meeting agenda of the executive board of the International Monetary Fund, the fund’s website shows. The provision of the next tranche had been scheduled for March 20.

    The IMF issued a press release regarding the postponement of the session, saying: “A short delay is necessary to assess the developments and policy measures affecting the financial sector and wider economic prospects”.

    The Ukrainski Novyny news agency, citing a source …

  • The IMF reached agreement on an updated memorandum of cooperation with Ukraine

    The International Monetary Fund (IMF) has reached an agreement with Ukraine on an updated Memorandum of Economic and Financial Policies. As a result, during the second half of March, IMF’s Executive Board will consider the allocation of another tranche of $1 billion to Kyiv, as was indicated in the Fund’s press release on Saturday, March 4th.

    In March 2015, the IMF approved a four-year loan program worth USD 17.5 billion to support economic reforms in Ukraine. It provided for quarterly …

  • Ukraine is ready to sign a memorandum with the IMF paving the way for the fourth tranche

    On the evening of March 1st, the International Monetary Fund (IMF) sent Ukraine the final version of the Memorandum of Economic and Financial Policies under an Extended Fund Facility (EFF). Its signing will allow the Fund to consider the allocation of a fourth tranche to Ukraine amounting to $1 billion within the program as announced on Thursday, March 2nd, by the Chairwoman of the National Bank of Ukraine (NBU), Valeriya Hontareva, during a press conference in Kyiv. "On the part of the NBU, …