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ITAR-TASS: Economy - Kiev to use first portion of IMF loan for augmenting gold and currency resreves
ITAR-TASS: Economy - Kiev to use first portion of IMF loan for augmenting gold and currency resreves
Kiev will use the first portion of the International Monetary Fund (IMF) loan for augmenting its gold and currency reserves in order to stabilize the financial situation in the country, National Bank Chairman Stepan Kubiv said on Monday, May 5.
“Over $1 billion from the first portion of the loan will go into the gold and currency reserves of Ukraine,
which will strengthen the financial system of the country. The
remainder will go to the budget to stabilize the macroeconomic and
financial situation in Ukraine,” he said.
Kubiv believes that the IMF loan “will send a positive signal to
foreign investors and domestic entrepreneurs, improve the investment
climate in the country and stabilize the hryvnia”.
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