Ukraine expects to receive another $4.5 bn from IMF by end of 2017
Ukraine’s National Bank has said that the country expects another $4.5 billion from the International Monetary Fund (IMF) by the end of 2017, a day after the fund granted one billion dollars to the country.
"According to our forecasts we expect the receipt of approximately $4.5 billion - these are three tranches from the IMF - by the end of this year," the bank's deputy head, Oleg Churiy, told reporters on Tuesday.
The remarks came a day after the IMF announced the release of a $1 billion loan payment to Ukraine, which had been delayed due to Kiev’s trade blockade against the eastern regions of the country held by pro-Russia forces.
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Ukraine's pro-western government has been waiting for the next installment of a $17.5-billion rescue program, which has been repeatedly postponed since it was agreed in 2015 due to Kiev’s delays to implement reforms.
According to a Tuesday report released by the World Bank, Ukraine's economic growth in 2017 is estimated to be two percent.
The World Bank stressed "the instant need to further accelerate reforms" that can make Ukraine's economic recovery "durable."
"There are significant headwinds from the weak global economy and the conflict in the east of Ukraine," said World Bank economist Faruk Khan.
"The coal and trade blockade in the uncontrolled areas of the east of Ukraine are expected to primarily impact two key sectors - steel production and electricity generation. As a result, our projection of economic growth for 2017 remains modest," the expert said.
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