PM: Ukraine has not yet used IMF's USD 2bn tranche.

By bne IntelliNews September 6, 2010
Ukraine has not yet used a USD 2bn tranche of a loan allocated by the International Monetary Fund (IMF), PM Mykola Azarov has said, while presenting the draft Tax Code. The USD 1bn is at the National Bank of Ukraine to support national reserves, while the rest is at the State Treasury. Earlier, the IMF Executive Board approved the allocation of a USD 15.15bn loan to Ukraine to help the authorities conduct reform and resolve economic problems. The loan should be repaid in 29 months. Ukraine immediately received a tranche of USD 1.89bn, whereas the next tranches will be allocated on the basis of quarterly reviews of the Stand-By Arrangement with the IMF.

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