Ukraine receives $3 bln of $17 bln first tranche of IMF credit

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Ukraine has received more than 3$ billion first tranche of a credit from the International Monetary Fund (IMF) on Wednesday, the press service of the Ukrainian National Bank told ITAR-TASS.

Earlier, board of Governors of the International Monetary Fund has endorsed a new anti-crisis program for Ukraine that envisions a loan facility in the amount of around $17 billion over the next two years. Further installments will be made available upon the results of regular reviews of the Ukrainian authorities’ action under the program, or approximately once in every two months.

Kiev will use the first portion of the International Monetary Fund (IMF) loan for augmenting its gold and currency reserves in order to stabilize the financial situation in the country.

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