IMF dissociates itself from the dispute between the Ministry of Finance and the NBU

Written by admin on February 14th, 2010

International Monetary Fund (IMF) dissociates itself from the infighting between the Ministry of Finance and National Bank of Ukraine concerning the allocation of the Government $ 2 billion of foreign reserves.

UNIAN received by the representative of IMF in Ukraine by Max Alier the decision of the Executive Board of the IMF on December 30, 2009, "according to which the lower level was reduced by net international reserves of about U.S. $ 2 billion under the program between the IMF and Ukraine .

The statement explained that "this decision was taken then to provide an opportunity for the Ukrainian leadership to use the resources available for external payments to be made in accordance with the IMF program with Ukraine."

"also raised a question - stated in the statement of the IMF - on the possibility of liabilities (liabilities) of Ukraine in the IMF (along with the relevant international assets) of the National Bank of Ukraine in the Ukrainian government. From the standpoint of the IMF, liabilities (liabilities) of the country - it is the responsibility of the country"s own party, and not a separate entity or organization. The government may decide - to give or transfer or to place such liabilities (liabilities) among various domestic organizations or bodies. Any decision on such a transfer or distribution is solely the decision of the Ukrainian leadership .

UNIAN As explained in the National Bank (the source asked not to say his name), this statement can be interpreted as IMF response to the accusation by the Acting Minister of Finance of Ukraine Igor Umansky to the National Bank, which set the NBU accused of "refusing to provide the Government of Ukraine"s gold reserve funds from $ 2 billion, previously obtained from the International Monetary Fund for external operations. "

In a statement the IMF noted that the Fund has agreed only to reduce the quantitative measure of pure gold and gross reserves, but on whose accounts - NBU or the government - will take into account the money - it is a thing of the Ukrainian authorities.

As UNIAN reported earlier, January 20, Umansky said that the National Bank of Ukraine has so far refused to provide the Government of Ukraine of foreign reserves funds from $ 2 billion, previously obtained from the International Monetary Fund for external operations. He said, when asked how much of that amount has already been used in the calculation of gas in January. Umansky noted that the National Bank refused to grant the necessary funds for these purposes, although the previous agreement has been reached with the IMF.

"This decision (about the possibility of allocating funds from reserves) was adopted, it was approved by the Board of Directors of the IMF, has been brought to the attention of the Ministry of Finance and National Bank. Meanwhile, it is not implemented by the National Bank or the penny," - said Umansky.

The minister noted that funds from the National Bank for the calculation of gas in January had been received from the sale of Government Bonds.

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