The international monetary Fund (IMF) began the process of transferring the fourth tranche in the amount equivalent of 1 billion dollars in the reserves of the National Bank of Ukraine (NBU). This was announced by the Minister of Finance of Ukraine Alexander danyluk.
“Began the process of transfer of funds of the fourth tranche of the IMF”, – Danilyuk wrote on his page in Facebook.
We will remind, earlier Deputy head of the NBU Oleg Churiy reported that IMF funds received in various currencies, which are included in the Special drawing rights (SDRs) – as in US dollars and in pounds and in euros. Part of the tranche will go directly to the accounts of the NBU in the currency of the GPA. This will increase the country’s international reserves to 16.1 billion dollars.
As reported, on April 3, the Board of Directors of the IMF completed the third review of the economic program of Ukraine in the framework of the extended financing facility (EFF) that allows you to give Ukraine about 1 billion dollars.
The decision to allocate the tranche was made after further examination by the IMF of a possible impact of the trade embargo on the Ukrainian economy and update the macroeconomic forecasts of the NBU and the Ministry of Finance. The IMF came to the conclusion that the situation will be a moderate impact on economic growth and the balance of payments and will not pose a threat to the implementation of the inflation target of the NBU.
While the IMF asked Ukraine to stop reforms. In particular, according to the IMF, Ukraine can no longer postpone the large-scale pension reform, including raising the effective retirement age.