IMF mission arrived in Kiev to assess economic situation

12 November 2014 11:05
(QHA) -

A mission of the International Monetary Fund (IMF) has arrived in Kiev to assess the economic situation in the country and the course of reforms, and to discuss conditions for further financial aid.

The mission led by Nikolay Georgiev of Bulgaria will stay in Ukraine until November 25.

Valeria Gontareva, head of the National Bank of Ukraine, said earlier she hoped for disbursement of combined third, fourth and fifth loan tranches from the International Monetary Fund by the end of 2014.

As reported, the IMF Executive Board on April 30 approved a two-year SBA worth $16.67 billion for Ukraine. Early in May, the IMF transferred the first tranche worth about $3.2 billion. Initially, second-fourth tranches were expected to be allocated on July 25, September 25 and December 15, 2014 in the amount of nearly $1.4 billion each.

However, Ukraine received a second loan tranche from the IMF just in early September. That's why the organization decided to combine next two tranches in one and provide them by the end of 2014.