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 Ukraine received second IMF loan tranche worth $1.7 billion, - National Bank of Ukraine Head

The National Bank of Ukraine received the second tranche of a loan under the Extended Fund Facility program from the International Monetary Fund amounting to $1.7 billion Aug. 4.

Censor.NET reports citing the press office of the National Bank of Ukraine.

Read more: IMF Executive Board completes first review of Ukraine's EFF

"The funds we've received from the IMF today will be used to replenish international reserves. In general, our international reserves are growing at a solid pace. We expect that their volume will reach nearly $18 billion by the end of 2015," the statement on the central bank's website reads citing National Bank of Ukraine Head Valeria Hontareva.

The central bank head also noted that Ukraine's economy was gradually growing. "Statistics have already been showing small growth of the Ukrainian economy since April 2015. In my opinion, we have already passed the lowest point of the fall and now there is every reason to talk about the gradual restoration of economic growth," Hontareva said. According to her, low rates of both the consumer inflation and the core one indicating the efficiency of the counter inflation measures taken by the regulatory authority have been recorded for the second consecutive month. "In order to nail down the positive trends and maintain stability in the financial market, the National Bank again left the refinancing rate unchanged," the head of the NBU said.

Read more: Ukraine to agree on 40% debt remission by late September

It should be reminded that the International Monetary Fund decided to allocate Ukraine the next tranche worth $1.7 billion under the Extended Fund Facility (EFF) program Friday, July 31. The IMF transferred Ukraine the first tranche in the amount of $5 billion under the EFF program March 13, 2015.

 
 
 
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