The IMF plans to approve the allocation of the next tranche to Ukraine
The Board of Directors of the international monetary Fund (IMF) will hold on the last working day of the week meeting, which is expected to approve the allocation of Kiev next tranche of financial assistance in the amount of 1, 7 billion.
Prime Minister of Ukraine Arseniy Yatsenyuk on 24 July said that the government has fulfilled all the criteria of the IMF and expects a positive decision on the results of the meeting of the Board of Directors of the Fund. The authorities believe that getting a new tranche will be to help further the economic recovery and the strengthening of trust in Ukraine. Kiev also hoped that the necessary funds have the opportunity to be listed in the beginning of August, they will be directed on replenishment of gold and exchange currency reserves of the national Bank.
The managing Director of the IMF Christine Lagarde also hinted on Wednesday that the next stage of the evaluation efforts of Ukraine on implementation of the IMF program will select a new payment.
"we must be the 1st change of the second program (lending) this Friday. I dream that he will be very convincing and will support efforts (the Ukrainian authorities), " said Lagarde.
She praised the Ukrainian government for the actions that are underway, in her expressions, " on all fronts "." Political players understand that If you want to expand the economy, If you want to restore stability, they need to beat on all fronts - fiscal, structural reforms, corruption, and the debt all together, " said Lagarde.
The managing Director of the Fund also stated that the IMF will continue to provide financing to Ukraine even in case of failure of negotiations with private creditors about a possible restructuring of government debt.
"If it (the talks - ed.) does not work, despite recent impressive progress, there is the opportunity to move to the legislative process, which introduces the moratorium (debt repayment). We have a payment policy countries, delaying payments, and we implement this policy, it will enable us to support Ukraine, in spite of this situation, " - said the head of the IMF.
Ukraine and the creditors ' Committee July fifteen at the talks in the U.S. capital has made progress on the issue of restructuring of debts of Ukraine and agreed to focus on resolving remaining disagreements. The Minister of Finance of Ukraine Natalie Jaresko during the first day of the week said that Kiev expects the Department of foreign creditors reactions to their latest offers and hopes to hold regular dialogues this week.
The official representative of the IMF Jerry rice before did not rule out that the Ukrainian Government reached final agreement with the creditors ' Committee at the meeting on July 31.
the national debt of Ukraine is about 70 billion dollars, of which about 40 billion foreign debt. The authorities have been conducting a dialogue with creditors to write off 40% of the principal amount of the debt that is supposedly fifteen billion dollars.
Russia expects maturity redeemed its Eurobonds of Ukraine on 3 billion dollars in the designated time - in the early winter of 2015 means that the country will receive from the IMF, this position was voiced by July fifteen at the meeting of the President of Russian Federation Vladimir Putin with members of the government.
Ukraine is already a long time in fact remains on the brink of default, the national currency over one year fell by more than 3 times.
The four-year Program of financial assistance to Ukraine was approved by the IMF Board of Directors on March eleven. The program provides for the allocation of Fund 17, 5 billion dollars, and all international creditors over four years - $ 40 billion. Ukraine in mid-March has already received the 1st tranche of the IMF $ 5 billion. Just in 2015 Kiev hopes to receive $ 10 billion.