The International Monetary Fund may distribute another credit to Ukraine

25 Apr 2014

According to n-auditor.com.ua, the decision will be passed on April 30. On Thursday, April 24, at the IMF’s meeting held in Washington an issue on disbursing additional financial aid to Ukraine was raised with ensuing decision to detail the procedure. This issue will be tabled during the regular meeting of the Council of the International Monetary Fund to be conducted on April 30th, the press-office of the IMF reports.

At the briefing, Head of Foreign Relations at the IMF Jerry Rice declared apart from the credit amount discussed before and totalling $14-$18 billion, Ukraine might be given extra $15 billion of support. In case this initiative is approved, both tranches will be transferred to Ukraine starting from 2014 to 2016.

According to the official, Kyiv has already handed over all requisite documents that prove meeting the requirements by the receiving party. Within the framework of this financial aid program, the IFM expects Ukraine will launch quite a number of large-scale reforms in the energy and financial sectors, and raise the domestic gas prices.The credit the IFM is giving will help Kyiv fulfil its debt obligations and avoid possible default.