The FINANCIAL — According to RIA Novosti, Ukraine is still in talks to receive the fourth tranche of a $16.4 billion loan from the International Monetary Fund (IMF) by the end of this year, the country's foreign minister has told a Ukrainian TV channel.
"There are still perspectives [to get the loan], but no guarantees," Petro Poroshenko told the Inter TV channel on Sunday evening.
The New York Times reported on December 10 that the IMF withheld the $3.5 billion tranche to Ukraine until after the presidential election due January 17. The paper said the decision reflected the global financial institution's "growing frustration over the inability of the country's politicians to get the budget under control."
Ukraine's deputy prime minister, Hryhoriy Nemyrya said the information in the New York Times article was outdated.
The IMF approved the loan to Ukraine in November 2008. The financial institution has already provided three tranches worth $4.5 billion, $2.8 billion and $3.3 billion to country as part of a stabilization loan program provided by the IMF to stabilize its economy, which had been seriously hurt by the current economic meltdown.
An IMF mission worked in the country's capital Kiev October 12-24. It was supposed to establish whether Ukraine implements conditions for the loan. The fourth tranche was to be provided by the end of 2009.
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