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Ukraine seeks combined IMF aid tranches

Posted on Aug 21 2014 | IANS

Kiev, Aug 20 : Ukraine Wednesday voiced hope that the International Monetary Fund (IMF) will consider a possibility of combining the third and fourth tranches of its aid programme for Kiev.

"We want to combine the third and fourth tranches. We expect it would be about USD 2.2 billion. We hope to receive the aid by the end of the current year," Xinhua quoted Finance Minister Alexandr Shlapak as saying.

He told reporters that Ukraine is also awaiting the second tranche of USD 1.4 billion from the aid package to boost the state budget and stabilise the financial market.

Ukrainian Prime Minister Arseny Yatsenyuk Tuesday said his country expects the IMF will decide on the disbursement of the second tranche this month.

Ukraine received a USD 3.19-billion first tranche in May and used it to boost its weak foreign exchange reserves and stabilise the macroeconomic and financial situation.

The IMF said Ukrainian authorities have to push forward reforms agreed with the fund to receive the second tranche.

The IMF approved a two-year USD 17-billion loan package for Ukraine April 30 to keep the country's ailing economy afloat amid economic and political turbulence.

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