PM Shmyhal: Ukraine expecting to get IMF tranche late November - early December

That’s according to Prime Minister Denys Shmyhal who spoke at a press conference on September 14, an Ukrinform correspondent reports.

The government chief confirmed that the "final" review mission of the IMF will work in Ukraine from September 18. Most likely, the talks will take place via video conference as in Ukraine, as well as around the world, the coronavirus incidence has been growing rapidly.

“The mission will actually be a final one in preparation for the next tranche under the current cooperation program. We have fulfilled all conditions stipulated in the memorandum of cooperation with the IMF. Therefore, we expect a positive result only. And we expect that approximately in late of November - early December, the next loan tranche will arrive," the head of the government emphasized.

He explained that within five to seven weeks after the mission completes its work, preparations for the meeting of the IMF Executive Board usually continue, at which the final decisions on the money transfer are made.

According to Denys Shmyhal, the results of the latest conversation between President of Ukraine Volodymyr Zelensky and Managing Director of the IMF Kristalina Georgieva also contribute to the positive forecasts for the continued cooperation with the key creditor.

As Ukrinform reported, on June 9, 2020, the IMF approved a new 18-month Stand-By Arrangement for Ukraine worth about $5 billion with the immediate provision of $2.1 billion within the first tranche. The virtual mission for the first review of the SBA completed its work in mid-February without issuing a recommendation to allocate the second tranche.

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