Putin gave Ukraine $ 2 billion

Ukraine has received a record amount of money from Russia

In brief: Russia is the main sponsor of Ukraine. The new agreements give new problems.

Means of Ukraine in the amount of $ 2 billion of income which became known early in the week, provided the Russian VTB. Credit provided to finance the budget at a reduced rate and for a period of six months with possibility of prolongation. At the same time, the interviewee did not name the other conditions of funding. He suggested that the need to raise funds due to the delay in the receipt of loan from the International Monetary Fund and the delay in the deployment of Eurobonds, due to the deteriorating situation on the international market borrowings.

The government of Ukraine continues to refrain from comment on the matter. The National Bank of Ukraine news agency confirmed the substantial increase in international reserves from the inflow of foreign exchange funds to state treasury, much of which had already converted into national currency. At the same time, the NBU also refrained from making any comments, offering traditional financial statistics to track the government and central bank. Also not able to obtain the comments of this information in VTB. The willingness of the Russian state bank VTB to provide loan to Ukraine on financing of the budget became known in late April this year. VTB held talks with the Ministry of Finance and the interest of the Ukrainian side is ready to extend credit to the Ministry of Finance in the near future to $ 500 million “, – said then Prime Minister Vladimir Putin. In addition, VTB Capital, representing the Investment Business of VTB Group in May as part of a consortium with JP Morgan and Morgan Stanley was selected as lead manager of the planned Eurobond issue for Ukraine. Prior to the deteriorating situation in the euro zone was assumed that the Ukrainian government may enter the Eurobond market in mid-June 2010. Treasury expected to yield about 6.8% per annum, but the European crisis has increased the rate to 9% per annum. In addition, the government hoped to have in May to begin a new program of cooperation with the IMF and get on it first funds. 2010 state budget includes revenue from the Fund’s $ 2 billion.

Igor Tringlers
2010-06-11 02:00, Economics.

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