IMF has provided Ukraine 3.3 billion dollars

On Tuesday, the International Monetary Fund (IMF) approved the allocation to Ukraine of third tranche adjustment loan of $ 3.3 billion dollars (2.12 billion special drawing right, SDR).

As reported in the press release of the IMF, so the total allocated credit for already allocated three tranches will be 10.9 billion dollars (7 billion SDR).

The agreement on granting Ukraine credit adjustment of $ 16.4 billion (11 billion SDR) was reached 5 Nov., 2008. At the same time has been allocated the first tranche, while the second was approved in May 2009.

According to the IMF, the state of Ukraine’s economy has gradually stabilized. In recent years, pressure on the financial system of the state decreases, but the decline in production has proved higher than expected. So, monetary policy of the National Bank of Ukraine, who is willing to act tough with the strengthening of inflation or the sudden change in the exchange rate, called adequate. In addition, the IMF noted, about the successful steps of the Ukrainian government to restore confidence in the banking system.

In the case of the IMF stabilization program proposed by the fourth tranche could come as early as November 2009.

Remember, that in early July the IMF revised the forecast fall in GDP of Ukraine at 2009, concluding, that the Ukrainian economy during this period decreased by 14 percent rather than 8 percent, as expected.

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