Ukraine obtains first tranche from IMF

Ukraine obtains first tranche from IMF

Ukraine has received the first tranche under the new Stand-By Arrangement (SBA) with the International Monetary Fund (IMF) in the amount of $1.4 billion, which boosted the country's forex reserves to $20.1 billion as of December 21, 2018.

"This is a five-year maximum. For the last time this level of forex reserves was recorded in January 2014," the National Bank of Ukraine (NBU) said.

The central bank recalled that the new 14-month SBA foresees the provision of financing to Ukraine for the amount of $3.9 billion, Interfax reported.

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