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The International Monetary Fund (hereafter, the IMF) can provide Ukraine with the largest financial assistance ever

The Vice Prime Minister of Ukraine and the Minister of Culture Vyacheslav Kirilenko informs that the International Monetary Fund can provide Ukraine with the largest amount of financial assistance in the history of the IMF. It was informed during Negotiation Council of the chairman of the parliamentary committees and fractions. ‘As of current projects, financial assistance to Ukraine can be the biggest in the history of the IMF, if to consider  the ratio to the gross domestic product that is expected accordingly to the current budget,’ – said Kirilenko.As informed earlier, in the middle of January the government of Ukraine requested the Board of Directors of the IMF to consider the possibility of approval of a new cooperation program with the use of mechanism of the Extended Fund Facility (hereafter, the EFF) that includes the significant allocation of funds for the period up to four years. As stated by the Minister of Finance Natalya Yaresko, Ukraine hopes to agree on a new cooperation program with the IMF in the forthcoming days and to receive the first credit tranche before the end of February. Currently Ukraine and the IMF are involved in the two-year stand-by program with the budget of 17 billions of USD; the program was signed in April 2014. All in all, in 2014 Ukraine received from the IMF two credit tranches with the budget 4.6 billions USD. In total, in 2014 Ukraine received 9 billions of USD from different sources, having paid 14 billions USD of the debts obligations. In 2015 the debt obligations amount to 11 billions USD.
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