NBU expresses not spending it is part of IMF loan

Written by admin on July 21st, 2009

National Bank said that not being spent his portion of loans from the International Monetary Fund. This group of advisers told the leader of the National Bank of Chapter Valery Litvitsky.

IMF funds not spent, and will not be spent until we have foreign exchange reserves from export-import operations of the capital and financial transactions. We do not use these funds and they are known account , - he said.

Litvitsky added that the IMF funds from the National Bank accommodated safely and without risk, and the NBU receives some benefits from the deployment.

Tranches (IMF) are of psychological value and give investors confidence that we have an autumn rush charges will go well and even foreign exchange reserves at the end of the year will remain, - added the banker.

Team Leader Adviser to the Head of the National Bank pointed out that he was not aware of the volume and direction of the IMF funds to finance the budget deficit.

Earlier the Ministry of Finance said on the direction of 1,5 billion dollars from 2.8 billion second tranche of IMF credit in the public service external obligations.

It was reported that 5 Nov., 2008 the IMF decided on the allocation of Ukraine stand by loan worth about 16.4 billion dollars to overcome the problems in the economy.

November 10, 2008 Ukraine Fund allocated the first tranche of loan for 4.5 billion dollars in May - the second tranche at 2.8 billion dollars.

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