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10:11
TALKS ON NEXT TRANCHE OF IMF LOAN TO UKRAINE MAY START IN LATE SEPTEMBER, SAYS ACTING FINANCE MINISTER

Kyiv, July 29 (Interfax-Ukraine) – The talks with the International Monetary Fund (IMF) about the release of the next tranche of the IMF loan to Ukraine may start by late September, acting Ukrainian Finance Minister Ihor Umansky has said.

"According to the preliminary agreements, this should happen in November. But as far as I know, the IMF is currently considering the possibility of bringing forward the dates of the review [of the program of cooperation with Ukraine] to September. And this decision is likely to be passed. I believe, the IMF mission will be able to come to Ukraine at the end of September," he told reporters in Kyiv on Wednesday.

The next IMF tranche should amount to "over SDR 2 billion and the following tranche $375 million," he said.

The program of Ukraine's cooperation with the IMF is intended for 2009-2010, he said.

The third tranche will be used to finance the budget deficit, primarily to serve Ukraine's foreign debts, Umansky said.

On the other hand, the foreign currency will enable the government to help the National Bank "sterilize excesses of hryvnia liquidity and quell the sentiments that are unfortunately present on the foreign currency market today."

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