IMF releases second loan tranche to Ukraine

BOFIT Viikkokatsaus / BOFIT Weekly Review 2015/32

​On July 31, the IMF Board voted to release the second tranche of the Extended Fund Facility (EFF) approved last March. The latest tranche was for $1.7 billion (the first tranche in March was for $5 billion). Ukraine’s foreign currency and gold reserves stood at $10.4 billion at the end of July.

The EFF lasts four years. Within its framework, Ukraine can borrow up to $17.5 billion from the IMF. Meanwhile Ukraine is continuing to negotiate with its private creditors in order to reduce the country’s debt burden. To date, Ukraine has met all its debt servicing requirements in a timely manner.

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