Tymoshenko: IMF to issue third loan tranche of $3.2 b in June or July

The International Monetary Fund will issue a third tranche of $3.2 billion of its Stand-By loan to Ukraine in June or July, Ukrainian Prime Minister Yulia Tymoshenko has said, ForUm informs, referring to Kyiv Post.

She also said that the IMF has revised the assessment of the situation in Ukraine and has forecasted that Ukraine's economy will start to recover in the latter part of 2009.

"The International Monetary Fund has revised its assessment of the situation in Ukraine and forecast that the economy will start recovering in the latter part of 2009," the premier said at a government meeting in Kyiv on Wednesday.

Tymoshenko added that the IMF would raise the amount of the tranche for Ukraine. In particular, it is planning to issue $3.2 billion in June-July and another $3.8 billion in November.

The IMF granted Ukraine a Stand-By loan worth a total of $16.4 billion in early November 2008.