Business news from Ukraine

NATIONAL BANK EXPECTS NEXT TRANCHE FROM IMF IN Q3

The National Bank of Ukraine (NBU) maintains its expectation that Ukraine will attract $2 billion from the International Monetary Fund (IMF) in 2018 and predicts the next tranche will be received at the beginning of the third quarter of 2018. “As for the next tranche of a loan, we believe that this will be possible at the beginning of the third quarter. However, this is rather a technical calculation in terms of the progress of negotiations and receipt of consents at the technical level,” Deputy NBU Governor Dmytro Solohub said at a briefing in Kyiv.
According to him, the NBU currently does not have any specific information about the date of the next visit of the IMF mission to Kyiv. At the same time, Solohub reported that the Ukrainian delegation planned to attend the Annual and Spring Meetings of the IMF and the World Bank.
“The traditional spring meetings of the IMF will be held at the end of next week, and the Ukrainian delegation will be present at them. These are not only negotiations with the [IMF] mission to discuss the [EFF] program, these are also meetings with other international organizations,” he said.

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NATIONAL BANK INTENDS TO TRANSFER UAH 15 BLN LESS TO STATE THAN FIXED IN LAW ON 2018 BUDGET

The National Bank of Ukraine (NBU) intends to transfer to the national budget part of profit in the amount of UAH 34.9 billion by the end of 2018, which is UAH 15.65 billion less than provided by the law on the national budget for 2018 (UAH 50.55 billion), NBU Council Head Bohdan Danylyshyn has said.
“The Council in accordance with Article 9 of the law of Ukraine on the National Bank of Ukraine has filed to the Verkhovna Rada and the Cabinet of Ministers information on part of profit for 2018 to be distributed, which is to be transferred to the national budget of Ukraine in 2019, in the amount of UAH 34.9 billion,” he wrote on Facebook.
According to the NBU balance sheet, its liabilities as of January 1, 2018 amounted to UAH 817.59 billion, of which cash in circulation and funds of banks stood at UAH 401.54 billion, general and other reserves at UAH 54.71 billion, reserves for revaluation of assets and liabilities some UAH 153.69 billion.
In 2017 the NBU sent UAH 44.38 billion to the national budget, another UAH 15.07 billion out of the UAH 59.45 billion profit for 2016 was used for formation of general reserves.