IMF and EU funds come to NBU account, Ukraine's intl reserves up to $16.7 bln
The fourth tranche of the International Monetary Fund (IMF) loan under the EFF program in the amount of $1 billion has already come to the account of the National Bank of Ukraine, according to the central bank's website.
Taking into account the second tranche of macro-financial assistance from the European Union (EU) in the amount of EUR600 million, the level of Ukraine's international reserves has increased to $16.7 billion.
The National Bank clarified the IMF funds were received in several parts in different currencies: SDR367 million, GBP200 million, EUR146 million and $92 million.
The current level of reserves covers 3.6 months of future imports and is sufficient to meet the obligations of Ukraine and carry out the current operations of the government and the National Bank.
The National Bank plans to continue cooperation with the IMF and expects three more tranches of financing for a total of about $4.5 billion by the end of this year, which together with other financing will allow increasing reserves to $21 billion by the end of the year.
In 2018 the NBU plans to obtain $3.9 billion of financing from the fund and replenish reserves to $26 billion.