Ukraine, IMF will discuss in Washington if possible to adjust SBA to current situation – Yatseniuk
Ukraine's delegation chaired by National Bank Governor Valeriya Gontareva and Finance Minister Oleksandr Shlapak on Wednesday will leave for Washington to participate in the annual meetings of the International Monetary Fund (IMF) and the World Bank on October 10-12 in order to engage in the talks with the leadership of these International Finance Organizations, Ukrainian Premier Arseniy Yatseniuk has said.
"Several tasks [assigned the delegation]: to adapt our program [Stand-By Arrangement] with the International Finance Organizations to day-to-day realities and attract as many additional resources to Ukraine as possible, to be able to start economic development and to go through this extremely difficult period," Yatseniuk said before the government sitting in Kyiv on Wednesday.
Besides, he said that the European Bank for Reconstruction and Development (EBRD) proposes for the country a simplified procedure of the consideration of the projects. It also foresees financing of natural gas purchase.
As reported, the IMF Executive Board on April 30 approved a two-year SBA worth $16.67 billion for Ukraine. Early in May, the IMF transferred the first tranche worth about $3.2 billion. Initially, second-fourth tranches were expected to be allocated on July 25, September 25 and December 15, 2014 in the amount of nearly $1.4 billion each.
However, Ukraine received a second loan tranche from the IMF just in early September. That's why the organization decided to combine next two tranches in one and provide them by the end of 2014.
In the course of the first review the SBA has been already adjusted in terms of the military actions and worsening of the economic situation in the country.