Ukraine’s National Bank receives another $1 billion from the IMF

The fourth tranche of the International Monetary Fund credit of $1 billion to Ukraine has entered the reserve of the National Bank of Ukraine, Ukrainian Finance Minister Oleksandr Danyliuk said Wednesday.

The IMF approved a four-year program of financial aid to Ukraine in March 2015. Kiev has already received three tranches of aid totalling $7.7 billion under the program, which stipulates the allocation of a $17.5-billion loan to Ukraine to revive the country’s economy and requires the implementation of economic reforms.

“The fourth IMF tranche of $1 billion entered the reserves of the National Bank of Ukraine,” Danyliuk said on his Facebook account.

On Monday, the IMF authorized a $1 billion tranche in financial aid to Ukraine as the country’s economy is slowly recovering. At the same time, the IMF stressed in a press release on Tuesday the need to speed up the pace of structural and governance reforms in Ukraine to achieve stronger economic growth.

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