15:44 05.04.2017

IMF tranche of $1 billion sent to NBU forex reserves – Finance minister

The funds of the fourth tranche of the International Monetary Fund (IMF) loan under the $ 1 billion EFF extended financing program began to flow into the reserves of the National Bank of Ukraine, Finance Minister Oleksandr Danyliuk has said.

"The process of transferring the funds of the fourth tranche began," he wrote on his Facebook page.

As earlier reported, the Board of Directors approved the allocation of the fourth tranche of the loan under the EFF program to Ukraine on April 3.

The funds of the fourth tranche from the International Monetary Fund (IMF) under the EFF program in the amount of $1 billion will come to Ukraine in the coming days, which will allow increasing the country's international reserves to $16.1 billion. "We expect that the funds will be received in the coming days in various currencies that are included in Special Drawing Rights (SDR): both in U.S. dollars, pounds and euros. Part of the tranche will go directly to NBU accounts in the SDR currency," NBU Deputy Head Oleh Churiy said on April 4.

According to him, the National Bank expects to continue cooperation with the IMF and receive another three tranches of financing in the amount of about $ 4.5 billion by the end of this year, which together with other financing would allow increasing reserves to $ 20.8 billion by the end of the year.

According to him, in 2018 the NBU expects to receive from the Fund $ 3.9 billion of financing and replenish reserves up to $ 25.9 billion.

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