Arseniy Yatsenyuk assures foreign reserves to reach USD12 billion after IMF's next tranche

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 corruption."

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.

He emphasized 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.