Media: Ukraine will not receive next IMF loan tranche this year
The International Monetary Fund is ready to consider the allocation of the next tranche to Ukraine after the adoption of the state budget for 2019, reported the Ukrainski Novyny news agency with a reference to a source close to the talks.
The IMF mission worked in Kyiv for two weeks and left Ukraine in the evening of September 19. Neither the Fund nor the government and the National Bank have made any comments on the outcome of the talks.
According to the agency, the discussions held by the fund’s experts with the representatives of Ukrainian authorities did not lead to the expected result.
Ideally, the outcome of the mission presupposed the signing of memorandum of cooperation between the IMF and Ukraine on the new Stand-by funding program. This program was planned to be launched in the near future in place of the current EFF (Extended Fund Facility) program, stopping it ahead of schedule.
The main parameters of the program were generally agreed on in advance. Hadn’t a problem occurred, the document could have been signed and submitted for approval by the board of directors in the second half of October, taking into account the work schedule of the IMF.
Thus, Ukraine was supposed to receive the first tranche of $ 1.9 billion under the new program by the end of October.
The state budget is adopted in December. All other programs of financial assistance to Ukraine are tied up under the IFM loan.