Ukraine Receives First IMF Tranche

World | May 7, 2014, Wednesday // 12:57| Views: | Comments: 0
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Bulgaria: Ukraine Receives First IMF Tranche Photo: EPA/BGNES

Ukraine has received the first tranche of USD 3.2 B from the IMF aid program, reports the central bank. 

The bank said the first tranche was received on Tuesday. More than $1 billion went to the bank's foreign currency reserves and the rest to the state budget, a spokesman said.

The IMF loan is worth USD 17 B and requires economic reforms, hiking of taxes and energy prices, freezing of minimum wages and other economic measures.  

Meanwhile, the Ukrainian news agency UNIAN reported that part of the loan can be used for paying the sum Ukraine owes Gazprom for natural gas.

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