The International Monetary Fund (IMF) has not yet considered the possibility of uniting credit tranches under the Extended Fund Facility (EFF) program for Ukraine, Director of the IMF Communications Department Gerry Rice has stated.
“I have no information that the revisions [of the program] will be combined. According to the information I have this will be the second revision,” he said at a traditional press briefing in Washington.
Earlier Deputy Finance Minister of Ukraine Artem Shevalev expressed the view that the IMF could unite the third and fourth tranches under the program in case of a successful continuation of the EFF program.
The four-year EFF program totaling SDR12.348 billion (about $17.11 billion at the current exchange rate), opened in March 2015, with the first tranche of $5 billion originally foresaw a quarterly revision of the program, the issue of another three tranches of SDR1.18 billion (about $1.63 billion) each in 2015 and the decrease in quarterly tranches in 2016-2018 to SDR440 million ($610 million).
