Because of the elections, Ukraine will not receive an IMF loan this year: There will be nothing to pay for gas
Berlin - Kiev, October 29 (PolitNavigator, Vasily Ablyazimov) - Reuters reports that Ukraine will receive a new loan tranche only in 2015, which will jeopardize payments for Russian gas.
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Ukraine can only rely on its own savings this year, Reuters reports, and in 2014 it will not receive the necessary additional billions in assistance from the International Monetary Fund (IMF), as it expected.
The IMF mission will arrive only when a new government is created, the agency reports. This, in particular, was confirmed by Finance Minister Alexander Shlapak on Tuesday. “They are willing to talk to the new government,” he said.
The expected second loan tranche of $2,7 billion now rolls over to next year. Following parliamentary elections, Ukrainian President Petro Poroshenko said on Sunday that the formation of a new government could take a month or even more.
In total, the IMF promised $17 billion to Ukraine. Without a new tranche, Ukraine can only count on 760 million euros from the EU this year. The Kyiv government urgently needs money to pay off debts, support the budget and stabilize the currency. Ukraine must also pay $3,1 billion for Russian gas by the end of the year.