The National Bank of Ukraine believes that Kiev has a good chance of receiving $2 billion in financial aid from the International Monetary Fund (IMF) by the end of this fall, Oleg Churiy, the deputy governor of the bank, said on Tuesday.
KIEV (Pakistan Point News / Sputnik - 28th August, 2018) The National Bank of Ukraine believes that Kiev has a good chance of receiving $2 billion in financial aid from the International Monetary Fund (IMF) by the end of this fall, Oleg Churiy, the deputy governor of the bank, said on Tuesday.
An IMF mission is set to visit the Ukrainian capital of Kiev on September 6-19 in order to discuss further IMF-Ukrainian cooperation.
"Chances for a positive review [of the IMF aid program] are very high. Here's our forecast � we will manage to reach an agreement with the IMF and receive a tranche of around $2 billion by the end of fall. This will also open up opportunities for cooperation with other international finance organizations and receiving $1.5 billion more in financial aid," Churiy said, as quoted by the UNN news agency.
He added that after reaching an agreement with the IMF, Ukraine would be able to enter the eurobonds market and inject $1.5 billion there.
The 2015-2019 IMF aid program under the Extended Fund Facility provides for the allocation of $17.5 billion to Ukraine. Four tranches have already been allocated. The fifth was supposed to be transferred in December, but since Ukraine had not met all the IMF requirements, namely the creation of an anti-corruption court and increase in domestic gas prices, the payment was put on hold.
On August 13, Oksana Markarova, Ukraine's acting finance minister, said that the Ukrainian authorities were going to discuss the continuation of cooperation after the program's conclusion in March 2019 during the IMF mission's September visit.
