IMF approves new loan for Ukraine

МВФ одобрил новый кредит для Украины

The IMF approved stand-by program for Ukraine 3.9 billion

Ukraine will receive the first tranche of the new loan from the International monetary Fund in the period up to 25 December this year.

The Board of Directors of the International monetary Fund (IMF) on Tuesday, December 18, approved a new funding programme stand-by arrangement for Ukraine by 3.9 billion dollars, the press service of the Ministry of Finance.

The first tranche of 1.4 billion dollars needs to come to Ukraine until December 25.

A decision on further tranches will be made in may and November 2019, the revision of Ukraine’s success in fulfilling the terms of the Memorandum.

The stand-by program for 14 months, will replace four-year program of the eff (Extended Fund Facility), which was to end in March 2019. According to the EFF program, Ukraine could receive about $ 17.5 billion, which would be 900% of the quota of the country in IMF. But because of the failure of a number of reforms, including in the energy sector, the schedule of tranches was shifted.

The last time the IMF has transferred money to Ukraine in April 2017. Just for the duration of the EFF program, the Fund has provided Ukraine with about 8.4 billion dollars.

Earlier, the IMF confirmed the readiness to work with Ukraine on a new stand-by program. The IMF agreed to a new program for Ukraine after the government raised gas prices by 23.5%.

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