Ukraine will receive four tranches of the IMF – Gontareva

Ukraine will soon sign a renewed Memorandum of cooperation with the International monetary Fund (IMF). This was stated by the head of the National Bank (NBU) Valery Gontareva.

“With the IMF we all agreed on. Now the Cabinet is finalizing the technical details. I think we will soon sign a Memorandum. The IMF will announce a date when they will make the decision. I have no doubt that the decision will be taken”, – said Gontareva.

The NBU, according to her, expects to receive in the current year four tranches from the IMF. Soon the flow of funds could occur in early February.

“Technically this may not be until the end of January. We expect that the level of the Cabinet, all would be agreed in the next few days and then counted for two weeks,” – said Deputy head of the NBU Dmitry Sologub.

National Bank head also recalled that the nationalization of PrivatBank was agreed with the IMF, and therefore will not prevent Ukraine to receive the fourth tranche under the program of expanded financing (EFF).

“We are all agreed upon with the IMF. I don’t see any obstacles for receiving the tranche. This technical issues are not on – site the national Bank- and they could not relate to PrivatBank”, – said Gontareva.

As is known, Ukraine and the IMF in March 2015 signed a Memorandum of economic and financial policies which the country should undertake in the framework of the EFF.

Just program worked for Ukraine of about $ 17 billion of which have already been allocated 7,7 billion dollars. So, in September 2016 after a delay of a year, the IMF has approved granting Ukraine the third tranche in the amount of one billion dollars.

The Cabinet of Ministers of Ukraine expects that the size of the fourth tranche of the IMF loan under the program of expanded financing will amount to 1 billion U.S. dollars.