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International Relation

Ukrainian president calls for joint efforts to secure next IMF tranche

March 21, 2017


Abstract : Ukrainian President Petro Poroshenko on Monday has called on all political forces in the East European country to unite their efforts for securing the next portion of critical aid from the International Monetary Fund (IMF).

KIEV, March 20 (Xinhua) -- Ukrainian President Petro Poroshenko on Monday has called on all political forces in the East European country to unite their efforts for securing the next portion of critical aid from the International Monetary Fund (IMF).

"We must combine our efforts to receive the tranche in the nearest time," Poroshenko told the meeting of the Regional Development Council, emphasizing that the funds are vitally important to maintain financial stability in Ukraine.

Commenting on the IMF decision to postpone the disbursement of the aid, Poroshenko said it was caused by the "absolutely irresponsible behavior" of some Ukrainian politicians, who have launched the trade blockade on non-government-controlled territory in eastern regions.

On Sunday, the Ukrainian Finance Ministry said the IMF has postponed a board discussion on disbursing the fourth tranche of its 17.5-billion-U.S.-dollar bailout program for Ukraine to assess the impact of the blockade on the country's economy.

On late January, a group of activists, including Ukrainian lawmakers and members of volunteer military battalions, has blocked the movements of trains, transporting coal and other raw products from the non-government-controlled territory in eastern Ukraine.

The IMF executive board approved the four-year bailout program for Ukraine in March 2015 to help the troubled country carry out reforms and boost its economic development.

Since then, the IMF has provided Kiev with 7.7 billion dollars in three disbursements of the financial support.

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Keyword: Ukraine IMF

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