NBU fulfills all IMF's requirements to get second tranche

The National Bank of Ukraine fulfilled all requirements of the International Monetary Fund to receive a second tranche of its stand-by arrangement, NBU First Deputy Governor Anatoliy Shapovalov said live on the Inter TV channel, UKRINFORM reported.

According to him, amid the current conditions, cooperation with the IMF will give other investors confidence “that Ukraine has an economic program”.

On November 5, 2008 the IMF approved a two-year Stand-By Arrangement (SBA) for about USD 16.4 billion to help the authorities restore financial and economic stability. On November 10, the first tranche at USD 4.5 billion came in Ukraine.

As reported, the IMF postponed extension of a second tranche of its stand-by arrangement to Ukraine (planned for February 15), having called on the authorities to cut fiscal deficit, enhance monetary policy and control banking sector.

On March 3, Ukraine sent a draft letter of intent on further cooperation with the IMF.

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