Ukraine central bank expects next tranche of IMF funds in January

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[December 29, 2015]  KIEV (Reuters) - Ukraine expects at least one tranche of funding, its third, from the International Monetary Fund (IMF) in January as Kiev has fulfilled all preconditions, central bank governor Valeriya Gontareva said on Tuesday.

Ukraine had expected the third tranche, worth $1.7 billion, by the end of this year. Gontareva said it might now receive the fourth tranche, also of $1.7 billion, at the same time as the third.

"Regarding the IMF tranche. The budget was recently adopted ... all other pre-conditions have been already met. Therefore, we expect that the (IMF) board will meet at the end of next month," Gontareva told a news conference.

"I see no obstacles from receiving the third and fourth tranches."

Ukraine's foreign currency reserves have remained roughly stable at $13.3 billion from $13.1 billion as of Dec. 1, she said.

Parliament last week approved a budget for 2016, a major condition to secure the next tranche of financial aid under a $17.5 billion IMF loan package as the country teeters on the edge of bankruptcy.

Parliament backed the government's proposal to adopt the budget with the deficit at 3.7 percent of GDP, the figure agreed with the IMF.

Ukraine has already received about $11 billion this year from the IMF and other international lenders to shore up its finances, which were crippled by separatist conflict and years of economic mismanagement and corruption.

(Reporting by Pavel Polityuk; Editing by Louise Ireland)

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