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Ukraine signed an updated memo with IMF to receive fourth tranche

The money should come in the near future.

Ukraine signed an updated memo with IMF to receive fourth tranche
Photo: Photo: EPA / UPG

Ukraine has signed an updated memorandum with the International Monetary Fund needed to get the fourth tranche of $ 1bn, Reuters reported on Thursday citing a source in the NBU.

"The Ukrainian side signed an updated memorandum of cooperation," the source said.

On February 28, the IMF press service said that the negotiations for the disbursement of another tranche for Ukraine may be completed next week.

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

The disbursement of the fourth IMF tranche is delayed due to the ongoing talks on reforms that Ukraine should implement, including a pension reform and the introduction of the land market.