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Ukraine's Finance Minister Oleksandr Danyliuk had said earlier the IMF Board could consider issuing a third tranche under the Extended Fund Facility at its meeting during the fourth week of August.

As reported, the four-year EFF program for Ukraine totaling SDR 12.348 billion (about $17 billion at a current exchange rates), opened by the IMF in March 2015, originally foresaw quarterly revisions of the program, as well as the issue of four tranches to Kyiv in 2015, with another four in 2016.

However, Ukraine was able to get only the first two tranches and then there was a time gap due to the political crisis and the government change. Negotiations on renewal of funding were resumed after the appearance of a new Cabinet headed by Volodymyr Groysman in April. Initially it was assumed that the third tranche would amount to about $1.7 billion, and the IMF Board of Directors will be able to take their decision in June. But due to non-fulfillment by Ukraine of a number of conditions, the terms are constantly postponed, that is why the amount of the tranche loan was reduced to $1 billion.

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