Ukraine to seek increase in IMF 3rd loan tranche to $3.8 bln
14:14, 20 June 2009
KIEV. June 20. KAZINFORM. Ukraine will ask the International Monetary Fund (IMF) to increase a third loan tranche by $600 million to $3.8 billion, a Ukrainian weekly quoted the country's acting finance minister as saying on Saturday; Kazinform refers to RIA Novosti.
Ukraine has received two loan tranches of $4.5 and $2.8 billion as part of a $16.4 billion stabilization loan program provided by the IMF to stabilize its economy, which had been seriously hurt by the current economic meltdown.
However, the IMF could reportedly postpone the visit and the allocation of a third trance until September. The financial organization has required the Ukrainian government to declassify its GDP reports, review the budget, audit the national energy company, Naftigaz, and refrain from cutting interest rates; Kazinform cites RIA Novosti. See www.en.rian.ru for full version.