Ukraine intermeddle in debt! - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine
The international monetary Fund announced its readiness to provide Ukraine...Ukraine intermeddle in debtsThe international monetary Fund announced its readiness to provide Ukraine $16.5 billion to maintain the country's balance of payments. Instead, Ukraine should in the coming days to adopt a package of anti-crisis laws. Experts positively estimate the loan to the IMF, as it stabilizes the situation in the country. But the NBU are not sure whether to spend the money.Sunday night, the national Bank and the Ministry of Finance issued identical statements about obtaining guarantees of lending to the country by the International monetary Fund (IMF). "The government and the national Bank have reported reaching agreement with the IMF mission on the economic aspects of the program, which is subject to approval by the Board of Directors of the IMF will allow Ukraine to receive IMF loan to support economic stability in the conditions of world financial crisis",вЂ“ stated in the message of the agencies.The amount of the loan in an interview with AFP called the head of the IMF Dominique Strauss-Kahn: Ukraine will allocate $16.5 billion to "maintain confidence and economic and financial stability". This amount exceeds the forecasts of the authorities, and approximately half of the reserves of the NBU on October 21 вЂ“ $34.3 bln last week, Prime Minister Yulia Tymoshenko said that the IMF loan on the balance-of-payments under the program stand-by can be from $3 billion to $14 billion And one of the bankers on Thursday on condition of anonymity told the words of one of the Vice-Minister of Finance of the coming loan to Ukraine at $10 billion.For this decision, the delegation of the European Department of the IMF took only a week and a half. Their emergency negotiations with Ukraine began on October 16 and 17, 20 and 21 October, the leading rating Agency S&P, Fitch and Moody's downgraded the Outlook and the ratings of the country. Their arguments were simple: a loan by the IMF confirms threat to the balance of payments and the risks of further devaluation of the hryvnia.Not all of these funds will receive the NBU in changes in the 2008 budget, the Finance Ministry has received 10 billion USD from international financial organizations on social spending. Money on the stand-by program will be available to Ukraine two years (listed as needed), but this decision still must be approved by the IMF Board of Directors. However, in the queue for IMF loans in addition to Ukraine (the share in the capital of IMF вЂ“ 0,63%) are Iceland, Hungary, Serbia, Bulgaria and Belarus. For $16.5 billion Ukraine is ready to implement a number of measures of economic policy to equalize the balance of payments, balancing the budget and support the banking sector, which "must be taken in the near future the Parliament".Director of the Institute for economic research and policy consulting Igor Burakovsky believes the money the IMF "cheap resource that is not given to everyone". "It's better to get the money now and not then stand in the queue last," he says. This money can act as a safety cushion, they have a psychological effect." But a Kommersant source in the NBU not sure what to agree to IMF conditions, which are not yet announced: "I am against the receipt of this money, because the IMF requires to expend them on the sale of foreign currency to non-residents who want to get out of Ukraine".The last tranche of the IMF EFF program was in 2001. Approved in March 2004, the stand-by program for USD 411.6 million SDR was not used.