Ukraine to Receive Next $1.7-Bln IMF Tranche in Nearest Future – Poroshenko
KYIV (Sputnik) — Ukraine will receive the next $1.7 billion from the International Monetary Fund (IMF) in the nearest future, Ukrainian President Petro Poroshenko said on Sunday.
“Our gold and currency reserves should receive $1.7 billion in the nearest time,” Poroshenko told reporters.
On Thursday, after holding a meeting with the IMF head, Christine Lagarde, Poroshenko announced that Kyiv was expecting to receive the next tranche from the fund in February.
In March 2015, the IMF approved a four-year $17.5-billion assistance package to Ukraine to revive the country’s economy and encourage a series of reforms. Kyiv has already received two tranches under the financial-aid program.
Economic situation in Ukraine has been deteriorating since a coup in February 2014. The country’s GDP fell by 6.8 percent in 2014, while inflation reached 24.9 percent. According to the IMF projections for 2015, Ukraine’s GDP was expected to fall by 9-11 percent and inflation to amount to 46 percent.