Ukrainian National Bank Expects $1.4-1.9Bln Loan From IMF By Christmas - Governor

Ukrainian National Bank Expects $1.4-1.9Bln Loan From IMF by Christmas - Governor

The National Bank of Ukraine (NBU) expects a positive decision on the Stand-By Arrangement by the International Monetary Fund (IMF) and a provision of $1.4-1.9 billion tranche to Ukraine before Christmas, Governor of the National Bank of Ukraine Yakiv Smolii said Thursday.

MOSCOW (Pakistan Point News / Sputnik - 13th December, 2018) The National Bank of Ukraine (NBU) expects a positive decision on the Stand-By Arrangement by the International Monetary Fund (IMF) and a provision of $1.4-1.9 billion tranche to Ukraine before Christmas, Governor of the National Bank of Ukraine Yakiv Smolii said Thursday.

"We expect a positive decision on the Stand-By Arrangement, which will substitute the Extended Fund Facility program currently implemented, and we suppose the next tranche will arrive after the decision is made, which is before Christmas," Smolii said as quoted by news Agency Unian.

The IMF board of directors will discuss the financing of Ukraine under the Stand-By Arrangement Framework on December 18. According to Smolii, the size of the pending loan is between $1.4 and $1.9 billion.

On October 19, the IMF and Ukraine agreed on a 14-month Stand-By Arrangement, which will provide $3.9 billion to Ukrainian authorities for execution of economic policies, and is expected to replace the previous IMF arrangement (Extended Fund Facility) that is coming to an end in March 2019.