Ukraine will submit memorandum to IMF this week – cbank chief
KYIV Feb 1 Ukraine plans to submit a new
memorandum of understanding to the International Monetary Fund
this week, opening the way for the release of another loan
tranche, central bank chief Valeriia Gontareva said on Monday.
Ukraine agreed last year to a $17.5 billion four-year
bailout programme from the Fund, but the disbursement of the
third instalment, worth $1.7 billion, has been delayed since
October.
“Everything is ready … it (the memorandum) will be sent
this week,” Gontareva said in a meeting.
Gontareva did not give any details of the document’s
contents but previous memorandums have outlined Ukraine’s
economic reform pledges adjusted to the latest situation in the
country.
Submitting the memorandum this week could pave the way for
the disbursement of a third tranche of IMF cash within the next
two to three weeks, Gontareva said.
A decision by the Fund to dispense the cash would unlock
additional international financial aid, including $1 billion of
U.S.-backed bonds.
Funding stalled in the last quarter of 2015 due to
disagreements in parliament over IMF-led tax reforms, but the
budget was successfully passed before the new year.
(Reporting by Natalia Zinets; Writing by Alessandra Prentice;
Editing by Toby Chopra)