Finance ministry hopes to send $500 mln out of IMF's credits in 2016 to finance budget
The Finance Ministry of Ukraine hopes to send $500 million out of $5.8 billion expected to receive from the International Monetary Fund (IMF) in 2016 to finance the budget, according to a borrowing schedule for 2016 presented by the ministry at a roundtable entitled "The policy of the Finance Ministry on the internal borrowing market in 2016."
The ministry said that the sum will arrive in June 2016.
Deputy Finance Minister of Ukraine Artem Shevalev told reporters after the roundtable that the issue has not yet been discussed with the IMF, but the possibility is outlined in the program.
Director of the debt policy department at the Finance Ministry Halyna Pakhachuk said that if the plans are not realized the ministry plans to cover a lack of financing thanks to the placement of currency-pegged government domestic loan bonds.
As reported, Ukraine in 2016 plans to attract $8-10 billion of financial assistance from foreign creditors, including $5.8 billion in the form of four tranches from the IMF under the Extended Fund Facility (EFF).
