IMF Will Decide on New Tranche Next Year Due to Change of Government in Ukraine

The International Monetary Fund is likely to decide on the next tranche for Ukraine within the framework of stand-by loan next year.

This was stated by official representative of the IMF Jerry Rice at a press briefing in Washington on Thursday, Censor.NET reports citing Interfax-Ukraine.

"We expect the next revision of the program, which will be a technical mission in mid-November. Since the economic policy (of Ukraine - Ed.) cannot be discussed until the formation of the new government, which, as we understand, will take some time, the work of the mission may be extended. Therefore, it is most likely that the outcome of the review will be presented by the IMF at the end of this yearly or early next year," he said.

Read also: Conflict Escalation in Ukraine Is One of Three Main Threats to Global Economy - IMF

At the same time, Rice added that the IMF does not expect any serious consequences for the economy of Ukraine in case of approval of the next tranche the following year. A stand-by loan totaling 10.97 billion SDR ($16.67 billion) was approved by the IMF on Apr. 30 this year to support the economic program of the Ukrainian government. In August, the IMF Executive Board completed the first review of Ukraine's implementation of the economic program supported by the stand-by loan and approved the second tranche of the loan in the amount of 914.67 million SDR ($1.39 billion). Ukraine received the tranche in early September. Thus the total amount of loan aid reached 2.97 billion SDR ($4.51 billion).

At the August meeting due to the delay of the first revision of the stand by program, the IMF Board of Directors granted the request of Kyiv and combined third and fourth tranches in order for them to be received during the current year without changing the total amount of the program. On Tuesday, Oct. 28, Finance Minister Oleksandr Shlapak said that Ukraine will receive the next tranche from the IMF the following year. "The next tranche will be next year. The best that we can count on is the adoption of the decision in December of this year. Starting Dec. 20 they have holiday, so Merry Christmas," Shlapak said according to Ukrainian News. Until the end of the year, according to him, Ukraine will be able to get another $1.3 billion from the European Union and the World Bank. "We still have $760 million that we can get from the EU and if we make it in time, $500 million under the World Bank's DPL2 program. But they need the approval of the IMF to do that," he added.

Earlier, Ukraine asked the EU for a new of €2 billion.

Источник: https://en.censor.net.ua/n309612