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 Allocation of third tranche of IMF loan to Ukraine depends on passing of budget and tax laws

The Board of Governors of the key Ukraine’s debt holder, the International Monetary Fund, has not yet scheduled the date of meeting on Ukraine - Washington anticipates the adoption of the Ukrainian budget and amendments of tax legislation.

IMF Resident Representative in Ukraine Jerome Vacher told UNIAN reporter in his comment, Censor.NET informs.

According to him, the date of meeting on Ukraine had not yet been scheduled while the IMF was waiting for the Rada's decisions on the state budget and amendments to the tax legislation. Jerome Vacher said that it were early days to talk about allocation of the third tranche under Extended Fund Facility before the end of year as IMF had not made any decisions then since it wanted to examine draft laws that would be adopted by the Verkhovna Rada of Ukraine.

Read more: IMF expects Ukraine to implement sweeping reform in law enforcement and anti-corruption fields

At the same time, Jerome Vacher stressed that passing of budget and tax reform was not the only issues of IMF's concern. He pointed out that certain positive changes in fiscal policy and stabilization of the financial system had already been noted adding that it was critical to preserve these achievements. According to him, there were also other goals but passing of budget in due time was still a matter of priority.

Earlier, the IMF approved the Extended Fund Facility loan program for Ukrainian economy in the amount of $17.5 billion for four years March 11, 2015. Ukraine received the first tranche under the new program in the amount of $5 billion March 13 and the second one in the amount of $1.7 billion Aug. 4.

Read more: Finance Ministry unveils 2016 budget with 598.21 billion hryvnia income, 673.96 billion expenditure, and 83.69 billion gap

The second revision of the Ukraine's loan program was held in two stages. The IMF mission was working in Kyiv in Sept. 2015. The negotiations were suspended Oct. 2 due to local elections and discussions of tax reform and draft state budget for 2016 that were held by country's authorities. The talks resumed in November.

 
 
 
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