Kyiv Expecting $10 Billion From IMF, International Partners in 2016
KYIV (Sputnik) – Ukraine is expecting to receive $10 billion from the International Monetary Fund and other international partners in 2016, Ukrainian Finance Minister Natalie Jaresko said Tuesday.
“We are continuing and are focusing on our reform program [and when implemented], there will be $10 billion from the IMF and other bilateral and multilateral sources,” Jaresko said when asked how much funds Ukraine was expecting in 2016 from foreign lenders.
In March 2015, the IMF approved a four-year $17.5-billion assistance package for Ukraine to revive the country’s economy and encourage a series of reforms. Kyiv has already received two tranches under the financial-aid program.
On January 21, after holding a meeting with IMF head Christine Lagarde, Ukrainian President Petro Poroshenko announced that Kyiv expected to receive the next tranche from the fund in February.
Economic situation in Ukraine has been steadily deteriorating since a February 2014 coup. The country’s GDP fell by 6.8 percent in 2014, while inflation soared to 24.9 percent. According to IMF projections for 2015, Ukraine’s GDP was expected to contract by 9-11 percent with inflation to stand at 46 percent.