Comment of Minister of Finance Oleksandr Danyliuk on the decision of the IMF Executive Board to provide the next tranche of financial aid to Ukraine

9/15/16

“Today, the IMF Executive Board has approved a new tranche for Ukraine amounting 1 billion US dollars.
This is already the third tranche under the Extended Funding Facility of the IMF. In our history, receiving a third significant tranche under the same funding facility is quite extraordinary. However, we managed to do that after more than one year of standby, though it was quite a challenging task.
I want to thank my colleagues in the Government and personally the Prime Minister, the Head of the National Bank, members of Parliament and, first and foremost, the President of Ukraine for their well-coordinated efforts. I am especially grateful to my team from the Ministry of Finance.
The third tranche from the IMF is a sign of trust to our Government confirming that we are on the right way, and it is a very positive signal for our investors.
The tranche will be transferred to the reserves of the National Bank and will contribute to the stability of the hryvna as well as to the stability of our financial system.
I also want to stress that IMF loans are provided at the lowest possible interest rate. Moreover, IMF loans are aimed to help Ukraine recover its economy and thus to reduce its debt burden”.

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