Ukraine to get second tranche of IMF loan on May 12-13

18:22

Ukraine will receive an SDR 1.9 billion ($2.8 billion) second tranche of its Stand-By loan from the International Monetary Fund on May 12 or May 13, Deputy Finance Minister Andriy Kravets has said.

"Of these assets, SDR 1 billion, or $1.502 billion at the current rate, is to be funneled into the budget," he said at a press conference in Kyiv on Tuesday.

Kravets said that these funds would be used to service the country's state debt.

He said that the entire tranche would initially be transferred to the accounts of the National Bank of Ukraine, and added that the central bank would then send SDR 1 billion to the State Treasury's accounts.

12.05.2009