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Ukraine to get US$5 milliard in first tranche of IMF's loan
12.03.2015 13:36 "Agro Perspectiva" (Kyiv) —
The first US$5 milliard tranche Ukraine will get from its key donor, the International Monetary Fund (IMF), under a new four-year Extended Fund Facility (EFF), UNIAN says referring to the IMF (International Monetary Fund) press service report.
Reportedly, the approval of the EFF for Ukraine foresees the allocation of the first tranche worth US$5 milliard, US$2.7 milliard of which will be funneled into support for the country’s budget, the IMF says.
It is to be admitted, the conditions and amounts of new tranches will be determined as long as Ukraine carries out reform.
As to UNIAN earlier report, the IMF Executive Board on Wed had approved an Extended Arrangement under the Extended Fund Facility (EFF) of SDR12.348 milliard (about US$17.5 milliard, EUR15.5 milliard) for Ukraine, based on a comprehensive economic reform program supported by the Fund as well as by additional resources from the international community.
It is to be admitted, the change in the IMF-supported program from the Stand-By Arrangement to the Extended Arrangement under the EFF, which is consistent with the more protracted nature of Ukraine’s balance-of-payment needs, will provide more funding, more time, more flexibility, and better financing terms for Ukraine.
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