IMF delays publication of Technical Assistance Report on Ukraine
The International Monetary Fund (IMF) is delaying the publication of the Technical Assistance Report on Ukraine planned for January 29, 2016, Bloomberg has reported, referring to an IMF notification.
The IMF said that the date of the publication of the report will be announced later.
The four-year Extended Fund Facility (EFF) program, which opened in March 2015 and totaled SDR 12.348 billion (around $17 billion according to the current exchange rate), with the first tranche of $5 billion, initially involved quarterly reviews of the program, disbursing three SDR 1.18 billion (around $1.63 billion) tranches in 2015, and reducing quarterly tranches in 2016-2018 to SDR 0.44 billion ($0.61 billion).
Ukraine was able to get only the first two tranches, the first one was partly ($2.7 billion) used to support its national budget; the rest of the funds went to the traditional recipient, the National Bank.
According to Ukraine's Finance Minister Natalie Jaresko, before making a decision on whether to grant Kyiv yet another tranche the IMF will be assessing compliance with all pre-conditions and structural 'beacons' that were to have been met before the end of December 2015. If these conditions were fulfilled successfully, IMF directors could meet to discuss disbursement of a third EFF tranche in late January-February.
