If the secretariat of the Ukrainian president, the National Bank of
Ukraine and the Cabinet of Ministers agree on the implementation of the
clauses of a cooperation program between Ukraine and the International
Monetary Fund (IMF), then the IMF Executive Board could meet to discuss
the possible provision of the next tranche of its loan to the country
late in November or early in December this year, Ukrainian Vice Premier
for European and International Integration Hryhoriy Nemyria said, UKRINFORM reported.
“As soon as agreement is reached at the level of the IMF mission's
management regarding a letter of intent, at least two weeks should pass
before the IMF Executive Board can take a decision. Put it shortly, if
we soon reach compromise and agree this with the IMF mission, then a
meeting of the Executive Board could be held in two weeks. This could
happen late in November or early in December,” he said.
Nemyria also said that the sides could reach consensus by reviewing some clauses of the state budget for 2010.
The IMF approved the Stand-By Arrangement with Ukraine in November
2008 in an amount equivalent to about USD 16.4 billion, and allocated
the first disbursement of USD 4.5 billion.
On May 12, 2009 Ukraine received the second tranche worth USD 2.8 billion.
Part of that tranche, worth USD 1.5 billion, was sent directly to
the national budget of Ukraine to finance the government's external
commitments.
The third tranche amounted to USD 3.3 billion instead of the USD 3.2 billion planned earlier.
The IMF initially planned to allocate the fourth tranche, worth 2.5
billion Special Drawing Rights (around USD 3.71 billion), to Ukraine on
November 15, 2009.
