Ukraine to receive ‘significant initial disbursement’ upon bailout approval by the IMF

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Ukraine might receive the first significant cash payments by the IMF if the fund's four-year loan program is approved on March 11, the fund announced Wednesday.

"The disbursements under the program will be heavily front-loaded, including a significant initial disbursement upon approval," the IMF said in a statement, Censor.NET reports citing The Wall Street Journal. "We are convinced that this will help achieve rapid macroeconomic stabilization," the fund said.

The fund confirmed that the IMF board is tentatively set to approve the expanded bailout program on March 11 if Kyiv is able to pass through parliament the required preconditions for fund financing.

Read more: IMF decision on new program for Ukraine may be postponed - Finance Ministry

"We look forward to the authorities' rapid prior actions to trigger consideration" of the new bailout by the IMF, the fund said.

Ukraine's government is conducting consultations with the parliamentary factions for more rapid implementation of 'the IMF package." The laws are expected to be discussed in the parliamentary session on Tuesday. The government suggested changes to the tax, customs, and pension legislation in order to balance budget expenditures and increase incomes.

Natalie Jaresko, Ukraine's Finance Minister, said earlier that Ukraine might receive up to $5 billion as an initial disbursement. She believes, according to the IMF practice, that Ukraine could receive about 60% of the new program's funds withing the first year.

Источник: https://censor.net.ua/en/n326308