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Tuesday, 16 July 20:53 (GMT -05:00)



Business And Politics News

IMF Will Consider Another Tranche to Ukraine on April 3


According to several online sources, the International Monetary Fund is going to consider making another tranche of financial aid to Ukraine. The IMF is expected to do this on April 3, 2017. If the tranche is approved, this is definitely going to become a major event for the Ukrainian economy and financial system requiring financial support from outside.

 

 

 


Ukraine is expected to get 1 billion dollars from the IMF if the tranche is approved. The corresponding issue has already been added on the IMF’s agenda and is waiting for the decision on Monday
 
Market leader reports that Kiev has been waiting for this tranche from IMF for a long time. It’s also interesting to note that the IMF was ready to make the tranche in March but Ukraine announce a blockade of Donbass, which is why the IMF asked Kiev to revise the economic figures with a glance at the recent event.
 
At this point, the Ukrainian government is reported to have revised the economic figures and sent them to IMF. Now, it’s up to the IMF to decide whether to provide Ukraine with the funds. In the meantime, Kiev and the rest of Ukraine are waiting for the positive decision from IMF since they count on the money.
 
At the same time, local experts believe that in the worst-case scenario, the Ukrainian currency may face bigger pressure and see devaluation, which in its turn may lead to a bigger-than-expected inflation rate this year. And even though 1 billion dollars is not enough to improve the economic situation in Ukraine, this amount of money is expected to create an extra safety cushion for the local economy and financial system. On top of that, if the IMF resumes the relations with Ukraine, this is going to be a good sign for those seeking to invest or already investing in Ukraine. This is also going to be a signal that the local economy is moving in the right direction and sticking to the recommendations made by international sponsors.
 
At the same time, the IMF is expected to consider the recent decision of a London court, which obliges Ukraine to settle accounts with Russia by paying 3 billion dollars. Ukraine is reported to have filed an appeal.

 

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