18:40 28.07.2016

IMF has no precise date of board review for Ukraine

2 min read
IMF has no precise date of board review for Ukraine

The International Monetary Fund (IMF) has no precise date of the board review for Ukraine, William Murray, the deputy spokesman of the IMF Communications Department has said.

"We don't expect the board review obviously before the recess. We expect Ukraine will be taken up by executive board by some time when the board reconvenes. But, we don't really have a precise timing for the board review of the Ukraine program. I would expect sometime after the recess," he said during a regular briefing in Washington on Thursday.

"Possibly August, September, at this moment I don't have a board date for Ukraine, but it would be sometime after the board recess. That is the guidance for you," he added.

According to him, the first two weeks of August, the board goes into recess. "So the earliest it will be the second half of August," he said.

As reported, the four-year Extended Fund Facility program for Ukraine totaling SDR 12.348 billion (about $17.11 billion at a current exchange rates), opened by the IMF in March 2015, originally foresaw quarterly revisions of the program, as well as the issue of four tranches to Kyiv in 2015, with another four in 2016.

However, at present the country has received only the first tranche of funds for $5 billion and the second one worth $1.7 billion.

Earlier in July, Ukrainian Finance Minister Oleksandr Danyliuk has said Ukraine could receive $4.3 billion in three tranches by the end of this year.

The NBU in turn expects to get two tranches worth $2.7 billion by the end of the year.

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