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Tuesday, October 25, 2016

Poroshenko: IMF almost unanimously voted for allocation of a new tranche to Ukraine

The Board of Directors of the International monetary Fund almost unanimously voted to extend the anti-crisis program of cooperation with Ukraine, in which Square will get from their Western partners another impressive installment. The only party that voted against was Russia, but to her opinion, no one listened.

photo: Natalia Gubernatorova

Commenting on the decision of the IMF decision, the President of Ukraine Petro Poroshenko said that in the framework of the approved programme of assistance to the country will receive $1 billion from the United States and 600 million euros from the European Union.

“The Fund’s decision involves the allocation of financial assistance from the United States in the amount of $1 billion and additional EUR 600 million in macro-financial assistance from the European Union… voted For by all members of the IMF Board of Directors, except for Russia”, – said Poroshenko, whose words are quoted by TASS.

The Ukrainian head of state also added that if the country will fulfill all of the programmatic criteria of the Western partners, will have in November of 2016 to rely on a tranche of about $ 1.3 billion, and in February of 2017 to two billion dollars.

Note that Russia opposed the granting to Ukraine of these funds due to the fact that the neighbouring country has no sovereign debt to Russia in the amount of 3,075 billion dollars. The Russian side demands from the official Kiev to repay the debt.


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