IMF tranche will replenish intl reserves - NBU
The approved third tranche of the International Monetary Fund (IMF) in the amount of about $1 billion (SDR716.11 million) will replenish Ukraine's international reserves, according to the website of the National Bank of Ukraine (NBU).
"The National Bank welcomes the IMF Executive Board's decision to approve the second review of the EFF program. This shows support for the program of reforms in Ukraine by the international organization and is a signal for domestic and foreign investors," the report reads.
According to the NBU, Ukraine will receive major part of the third tranche in special drawing rights (SDR), while another part will be in international currencies.
The report also states the tranche will be provided within several days from the date the IMF board made the decision.
In NBU noted the IMF's approving the second review of the program opens opportunities for obtaining other related financing, in particular, $1 billion from eurobond placement under U.S. guarantees, as well as EUR600 million from the European Commission.
