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Ukraine expects 2nd tranche in amount of $750 mln from IMF in late Nov to early Dec – PM

KYIV. Sept 14 (Interfax) – Ukraine expects the second tranche under the Stand-By Arrangement (SBA) of the International Monetary Fund (IMF) in the amount of $750 million in late November or early December, Ukrainian Prime Minister Denys Shmyhal said.

"We expect positive completion of the [IMF] mission. We expect the end of November or the beginning of December to be the date when the IMF tranche is possible," Shmyhal said at a press briefing in Kyiv on Tuesday.

"All conditions, all benchmarks from the memorandum have been met," he said.

The prime minister said the government did not allow for a negative outcome of the mission, which is to arrive in Kyiv next week.

"Today, we do not see any barriers to positive completion of the mission and receipt of the tranche," he said.

As reported, in June 2020, the IMF approved a stand-by program for Ukraine in the amount of around $5 billion with prompt disbursement of the first tranche of $2.1 billion. For the remaining four, the IMF planned to conduct four reviews of the country’s compliance with the terms. However, the schedule was disrupted and funding suspended over Ukraine’s failure to fulfill several obligations.

National Bank of Ukraine Governor Kyrylo Shevchenko said earlier that the second tranche, could exceed $700 million, but the matter would be discussed with the mission.

Ukrainian Finance Minister Serhiy Marchenko said that a potential six-month extension of the 18-month program was under discussion.