All the funds
provided to Ukraine under the second tranche from the IMF will be used to replenish Ukraine's National Bank's reserves. This
was announced by Prime Minister of Ukraine Arseniy Yatsenyuk in "10 minutes with the Prime Minister"
on Sunday, August 2.
Arseniy Yatsenyuk reminded that the decision of the IMF
decided to allocate Ukraine the next tranche worth USD1.7 billion, "is a proof
that Ukraine is carrying out reforms and a prerequisite for the allocation of
such a large amount of money were real steps on the path of combating
According to the PM,
this decision of the IMF "is another evidence
that we are following the right way."
Arseniy Yatsenyuk made the point that just in February the reserves
of the National Bank amounted only USD5.6 billion.
that the entire amount granted as the second tranche from the IMF would be used
to replenish the reserves of the National Bank, "and thus our reserves
will reach USD12 billion."
"This is the
key to the stability of the national currency and the normal operation of the
Ukrainian banking sector," the Prime Minister highlighted.