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Ukraine is critically dependent on next IMF tranche - finance minister

December 26, 2015, 1:42 UTC+3 KIEV
"It is critical because the uncertainty over whether there will be a budget and tranche or not influences the mentality of Ukraine’s people," Natalie Jaresko said
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© EPA/SERGEY DOLZHENKO

KIEV, December 26. /TASS/. It is critically important for Ukraine to get a third tranche from the International Monetary Fund under the revised cooperation program, Finance Minister Natalie Jaresko told the daily Delo in an interview.

"It is critical. We were to receive it back several months ago. We are way behind time. It is critical not just from the standpoint of replenishing National Bank reserves. It is critical because the uncertainty over whether there will be a budget and tranche or not influences the mentality of Ukraine’s people," she said.

Jaresko said the banking system and investors were also under a considerable influence of this uncertainty factor.

"Getting the tranche is a prerequisite for a US loan of one billion dollars and pre-requisites for European loans," Jaresko said.

Earlier, the Ukrainian parliament adopted a tax reform and, on its basis, the country’s budget for 2016 based on IMF recommendations. That was one of the key conditions for the disbursement of more tranches.

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