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Finance Ministry awaiting fourth IMF tranche early next month

"We are planning to get about 1bn dollars."

Finance Ministry awaiting fourth IMF tranche early next month
Photo: Photo: Julia Berezovska / NBU

Finance Minister Oleksandr Danyluk says Ukraine will receive in early February the fourth tranche of the credit program of the International Monetary Fund.

"We are planning to get about 1bn dollars," Danylyuk told Reuters on 17 January.

The minister noted that Ukraine continues to implement economic reforms within the framework of cooperation with the IMF, and the deficit of the 2017 state budget does not exceed the maximum permissible value of 3% of GDP.

Despite that parliament failed to adopt the other requirements of the IMF this year, in particular the key pension reform, Danyluk said he was confident that this legislation will be passed in 2017.

The IMF also hailed the decision of Ukraine to nationalize the country's largest Privatbank, the minister reminded.

Danyluk also announced the country's plans to issue new US-guaranteed Eurobonds. Over the previous two years, Kyiv attracted 3bn dollars in foreign markets thanks to US guarantees.

In March 2015. the IMF opened a four-year EFF program for Ukraine worth 17bn dollars. It involves a quarterly review of the program and the allocation of four tranches in 2015, and four more in 2016. However, to date the country has received only three tranches: the first 5bn dollars in March 2015, the second at 1.7bn dollars in August 2015, and the third 1bn-dollar trance in September 2016.