The new 14-month IMF loan program for Ukraine Stand By provides for the allocation of three tranches, including two for a total of $ 2.6 billion – by the end of 2019. This is stated in the latest analytical report of the Fund, Ukrinform writes.
The allocation of the second and third credits under the program is envisaged after the completion of IMF reviews planned on May 15 and November 15, 2019 respectively. The amounts of the planned tranches are equivalent to $ 1.3 billion.
“Investments, especially foreign direct investment, are constrained by a complex business climate, while a large number of workers are looking for employment opportunities abroad, as economic growth is too low for revenues to significantly reduce the gap compared to other countries in the region,” the Fund said.
Despite the restoration of macroeconomic stability and economic growth after the severe crisis of 2014-2015, efforts to create more positive dynamics, a competitive economy haven’t met expectations, the IMF notes.
