IMF Board to consider provision of new tranche to Ukraine on April 3
International Monetary Fund (IMF) Resident Representative Jerome Vacher has confirmed that the issue of the third review of Ukraine's arrangement under the Extended Fund Facility (EFF) has been included in the April 3 agenda of the IMF’s Executive Board.
"Consideration of the third review of Ukraine’s arrangement under the Extended Fund Facility by the IMF’s Executive Board, together with the 2016 Article IV consultation, is being scheduled for April 3, 2017. Completion of the third review will enable the disbursement of about $ 1 billion," the IMF said in a press release, citing Vacher.
As reported, the issue of the third review of the EFF program for Ukraine was dropped from the March 20 agenda of the IMF Board of Governors. There is no data about the reasons for such changes on the Fund's website. The agenda has been compiled over the period until March 31 and the issue of Ukraine is not on it.
The Finance Ministry said that the meeting has been postponed only because of the need to clarify the calculation of the economic consequences of the measures Ukraine introduced in response to the blockade and seizure of Ukrainian enterprises in the non-government-controlled areas of Donetsk and Luhansk regions, and also in light of the Russian recognition of documents issued in those areas.
The National Bank of Ukraine (NBU) said that the central bank revised its macroeconomic forecasts, taking into account the effect of the blockade.