Ukraine receives first tranche under new IMF's Stand-By Arrangement, says NBU

11:29, 07.05.2014 1 min read

Ukraine has received SDR 2.058 billion (around $3.19 billion) under a two-year Stand-By Arrangement approved by the International Monetary Fund (IMF) in late April to support the economic program of Ukrainian authorities on the restoration of the macroeconomic stability and economic growth, the press service of the National Bank of Ukraine (NBU) has reported.

"All funds of the first tranche arrived to Ukraine on Tuesday in the volume planned, and this confirmed that international financial institutions cooperate with Ukraine," the central bank said.

As reported, around $2 billion from the first tranche will be sent to finance the deficit of the national budget, while the rest of the funds will be sent to the country's international reserves.

The decision to provide the second and third tranches will be based on the revision of the program to be conducted once in two months and the implementation of the program criteria, while the rest of the sum will be issued after standard quarterly revisions.