Ukraine is negotiating with the world Bank about raising $1 billion, Deputy Finance Minister

Ukraine is negotiating a loan from the world Bank in the amount of $1 billion. this was stated by Deputy Minister of Finance of Ukraine Yuriy Butsa, told Bloomberg on September 26.

According to him, the final decision is still pending. The amount that can be paid to Ukraine may be less than announced.

Butz explained that the terms of the loan from the world Bank and other international financial institutions more profitable, than in the case of exiting the market.

Bloomberg notes, that Ukraine delays receives funding from the International monetary Fund (IMF), which lasts for the amount of $17.5 billion the reason for the delays – corruption in the recipient country.

Ukraine and the IMF signed a Memorandum of economic and financial policies which the country should undertake in the framework of the EFF in March 2015.

In April 2017, the Fund has allocated Ukraine the fourth tranche of $1 billion.

In may the IMF said that for completion of the review of the EFF would expect from the Ukrainian authorities ensure that parliamentary support land and pension reforms, anti-corruption bills and the intensification of the privatization process.

The last fifth tranche of financial assistance was scheduled for June–July 2017.

In July, Prime Minister Vladimir Groisman reported that the next tranche of financial assistance for Ukraine from the IMF in the amount of $1.9 billion will be deferred until the end of 2017.

The reason for the delay was the fact that the Verkhovna Rada did not have time to take the necessary for granting the loan bills before the start of the summer holidays.

In September Finance Minister Oleksandr danylyuk said that the land reform is no longer a prerequisite for the next tranche.

According to the Deputy head of the National Bank of Ukraine Kateryna Rozhkova, the IMF mission planned to visit Kiev in the second half of September.

On 18 September the head of the IMF Christine Lagarde said that Ukraine should strengthen anti-corruption measures.

Ukraine is negotiating with the world Bank about raising $1 billion, Deputy Finance Minister 29.09.2017

Сентябрь 29th, 2017 by
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