After receiving the loan from the IMF, the national Bank will cancel the portion of foreign exchange restrictions
For several days on account of the National Bank of Ukraine received $ 1 billion of the next tranche of the loan from the International monetary Fund, the allocation of which was agreed to yesterday, April 3.
“The funds will be received in US dollars, euros and pounds sterling. Also part of the tranche will go directly to the accounts of the national Bank in the currency of the SDR (special drawing rights),” he said during the press conference, the Deputy Chairman of the national Bank Oleg Churiy, quoted by “Economic truth”.
Recall that Ukraine has already received from the IMF under the new expanded program of lending $ 7.5 billion, not including the current tranche of $ 1 billion, which is not yet credited to the account of the national Bank and which will direct on replenishment of reserves of the regulator. Overall, the program signed in the spring of 2015, for four years, and the total amount of the loan amount to $ 17.5 billion.
After receiving $ 1 billion in foreign exchange reserves of the national Bank amount to 16.1 billion dollars. In addition, according to Coria, the regulator will carry out a more active policy of currency liberalization, that is, will cancel a number of restrictions on the foreign exchange market. This writes UNIAN.
“The national Bank will soon take a decision on monetary easing,” he assured Cure.
The national Bank is now hoping to get to the end of 2017 from the IMF $ 4.5 billion dollars foreign exchange reserves will then increase to 20.8 billion dollars.
“As for our future plans, according to our forecasts, we expect revenues of approximately $ 4.5 billion before the end of this year. Also, we expect the receipt of funds from the European Commission in the amount of about 1.3 billion euros until the end of the year. In addition, next year we are expecting to receive $ 3.9 billion, ” said Curi.
He also stressed the importance of continuing the program with the IMF, because it is not what is to repay debts.
“Ukraine before the end of 2019 must pay the principal amount and interest of approximately 12.8 billion. Therefore, for Ukraine it is critical to continue working with the IMF, in order that we may fulfil the obligations regarding our debt. This will help preserve financial stability and the ability to make these payments without undue stress, ” said Curi.
Finance Minister Alexander danyluk hopes for a new tranche of the IMF in may.