IMF Can Disburse Additional $4.4Bln to Ukraine in 2017 if Reforms Progress

WASHINGTON (Sputnik) — On Wednesday, the fourth tranche of the International Monetary Fund credit of $1 billion to Ukraine has entered the reserve of the National Bank of Ukraine.

"In principle, we could have three more reviews completed this year, if everything goes according to plan. This depends on the authorities' ability to deliver on time…Those three reviews, if completed, could lead to further disbursement of about $4.4 billion this year," Rice told reporters.

On Monday, the IMF authorized a $1 billion tranche in financial aid to Ukraine as the country’s economy is slowly recovering. At the same time, the IMF stressed in a press release on Tuesday the need to speed up the pace of structural and governance reforms in Ukraine to achieve stronger economic growth.

The IMF approved a four-year program of financial aid to Ukraine in March 2015. Kiev has already received three tranches of aid totaling $7.7 billion under the program, which stipulates the allocation of a $17.5-billion loan to Ukraine to revive the country's economy and requires the implementation of economic reforms.