NBU expects IMF to approve 4th EFF tranche in a week, $10 bln in March and April

MOSCOW. March 14 (Interfax) - The National Bank of Ukraine (NBU) has announced positive changes that have taken place lately as regards international financing of Ukraine, expecting the country to receive over $10 billion in March and April, including owing to the IMF Board of Director's positive decision on providing the fourth tranche of up to $900 million under Extended Fund Facility (EFF) in a week.

"Ukraine has secured a staff-level agreement on the third review of the IMF program and expects the Fund's board of directors to make a decision in a week," Ukrainian media reported with reference to an NBU press release on Thursday.

"Ukraine might receive over $10 billion in March and April. More active foreign aid will make it possible to considerably increase the volume of international reserves in the near future," it said.

At the end of February, the Council of the European Union approved a 50-billion-euro Ukraine Facility, under which Ukraine is supposed to receive 4.5 billion euros in March and another 1.5 billion euros in April in transitional financing.

As reported, an abrupt reduction of financing from abroad depleted Ukraine's international reserves by 4.9%, or by $1.98 billion, in January and by another 3.8%, or $1.47 billion, in February to $37.05 billion.

In January, the NBU reduced its forecast of the size of Ukraine's international reserves as of the end of 2024 to $40.4 billion from $44.7 billion.