Minister of Finance Natalia Yaresko stated that in case of change of government IMF will take a break in extended fund facility (EFF) program and will continue it only if the new government is ready to fulfill obligations, undertaken by predecessors, as she said at “Freedom of Speech” on ICTV on Monday, Interfax-Ukraine reports.
“They (IMF) will expect until it is clear what executive power is and if it undertakes obligations to fulfill conditions and, evidently, then, the next tranche of USD 1.7 bln will be disbursed”, Yaresko noted.
The minister emphasized that currently the cooperation with IMF is really critical for the country, as there are no other lenders who are ready to disburse funds to Ukraine for such a long period and at such reduced rates today.
The four-year EFF program, opened by IMF in March 2015, for Ukraine, for the total amount of SDR 12.348 bln (about USD 17 bln) initially included a review, conducted quarterly, disbursement of four tranches to Kyiv in 2015, in 2016 – other four.
However, as of now the country received only the first tranche of funds for $5 bln and the second – for USD 1.7 bln.
