Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Ukraine expects next IMF tranche of $750 million in December, PM says

EconomySep 14, 2021 01:11PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Ukrainian Prime Minister Denys Shmygal speaks during an interview with Reuters in Kiev, Ukraine May 29, 2020. REUTERS/Gleb Garanich/File Photo

By Natalia Zinets and Pavel Polityuk

KYIV (Reuters) -Ukraine expects to receive the next tranche of assistance worth $750 million from the International Monetary Fund in December, and 600 million euros from the European Union in November, Prime Minister Denys Shmygal told a news conference on Tuesday.

Shmygal said Ukraine had fulfilled all the IMF's conditions under the current assistance programme, adding that an IMF mission is expected in Ukraine from Saturday for talks. Ukraine signed a $5 billion IMF programme last year but the loans were effectively frozen over concerns about reforms.

"This mission will actually be the final one in preparation for the issuance of the next tranche - we have fulfilled all the conditions, all the benchmarks that were spelled out in the memorandum with the IMF," Shmygal said.

"Therefore, we expect a positive completion of this mission and expect that approximately in December, late November - early December - this is the date when the IMF tranche is possible," he added.

The IMF said it would restart its review mission in September, but declined to confirm any specific date.

"As the Managing Director said earlier this summer, the mission will be working with the Ukrainian authorities on the remaining issues where agreement is needed to complete the review," a spokesperson said.

One of Europe's poorest countries, Ukraine tumbled into recession due to the pandemic last year. Under the IMF programme, Ukraine received $2.1 billion last year but failed to secure more assistance, and repeatedly revised its own estimates of when another tranche would be disbursed.

Shmygal also said the government had a normal working relationship with the central bank and that the central bank's decisions were "well-grounded."

The central bank last week raised interest rates for the fourth time this year to tackle double digit inflation. The previous central bank governor had resigned last year complaining of political meddling.

Ukraine expects next IMF tranche of $750 million in December, PM says
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Felipe Daniel
Felipe Daniel Sep 14, 2021 1:20PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Ukraine is where Biden extorted prosecutor to help Hunter Biden criminal case
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email