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 Finance Ministry expects IMF's support for another Ukraine tranche, - Danyliuk

Ukraine counts on IMF Executive Board's positive decision on the allocation of the third tranche of funds to Kyiv under the extended fund facility (EFF) program despite Russia's intention to vote against it.

As reported by Censor.NET citing Interfax-Ukraine, this was announced by Ukraine's Finance Minister Oleksandr Danyliuk.

Read more: IMF to decide on Ukraine's tranche Sept. 14, - Poroshenko

"At all the previous votes, Russia never backed IMF's decisions to allocate tranches to Ukraine under the existing EFF program. Despite this fact, the IMF made positive decisions twice," he told Interfax-Ukraine on Tuesday.

Danyliuk recalled that the IMF Executive Board makes decisions by the majority of votes. Russia has the same right to vote as any other board member.

"We are waiting for a positive voting on Sept. 14 and the allocation of the third tranche in the short term," the minister said.

Read more: Ukraine fully complies with IMF demands, technical details remain, - Hroisman

Earlier, Russian Finance Minister Anton Siluanov said Russia will vote against providing Ukraine with another tranche of the IMF's loan.

The IMF Executive Board is to consider the allocation of funds to Ukraine Sept. 14.

On Sept. 1, the International Monetary Fund once again urged Moscow and Kyiv to reach a compromise on the debt of Ukraine's ex-President Viktor Yanukovych in the amount of $3 billion, which is recognized to be a state debt, though falls under a moratorium on debt payments.

A part of the Russia's loan was provided in December 2013 after Ukraine issued Eurobonds in the amount of $3 billion maturing in December 2015.

In March 2015, Ukraine began the process of debt restructuring under the terms approved by the IMF.

In November 2015, Ukraine completed the restructuring process by issuing new government bonds and derivatives. Russia refused to exchange papers, demanding better restructuring terms than those agreed with the other Ukraine's creditors.

After the Russia's refusal to participate in the debt restructuring process, the Cabinet of Ministers introduced a moratorium on the repayment of the Russian loan in December last year and instructed the Ministry of Justice to hire lawyers to protect Ukraine's interests in court. Subsequently, the moratorium was made unlimited by a corresponding decision of the Verkhovna Rada.

Read more: IMF does not require Ukraine to increase retirement age so far, - PPB MP Dovbenko

In December 2015, the IMF recognized the Ukraine's debt to Russia to be a state debt but softened its loan policy for the countries with unpaid state debts.

In February 2016, Russia filed a lawsuit against Ukraine to the London's High Court of Justice, demanding the repayment of the debt that the Ukrainian side considers to be a bribe to ex-President Yanukovych for refusal from Ukraine's integration with the EU.
Источник: https://en.censor.net.ua/n405720
 
 
 
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