IMF Approves Two-year-Stand-By-Arrangement Worth $17.01 Billion with First Tranch’e of $3 Billion in May ‘

#AceFinanceNews – UKRAINE – May 01 – The Executive Board of the International Monetary Fund (IMF) has approved a two-year Stand-By Arrangement (SBA) worth $17.01 billion for Ukraine, the IMF’s press service said on May 1.

As was earlier reported, Kyiv hopes to get the first $3 billion tranche of the new SBA between May 5 and May 8, 2014, Ukrainian Finance Minister Oleksandr Shlapak said on April 30. (Interfax-Ukraine)

“We’re waiting about $3 billion [in the first tranche]: $1 billion will go to the National Bank of Ukraine, $2 billion will cover the budget deficit.

We expect this from May 5 to May 8,” he said.

IMF PRESS RELEASE

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` Stepan Kubiv States Reports a Russian Bank was Financing Supporters for Federal System in Ukraine is Unconfirmed ‘

#AceFinanceNews – KIEV – April 16 – Chairman of the National Bank of Ukraine Stepan Kubiv has declared that earlier reports alleging that one of the Russian banks was financing supporters of the establishment of a federal system in Ukraine have not been confirmed, the bank chairman declared before a session of the Ukrainian Rada opened on Wednesday.

‘”The reports have not been confirmed,” local media agencies quoted him as saying.

On Tuesday, Ukraine’s Security Service (SBU) opened a criminal case against an employee of one of the Russian banks. SBU press service claimed that the Russian bank had been financing supporters of the establishment of a federal system in the east of Ukraine.

However, the exact name of the Russian bank, which aroused suspicion in Ukraine, was not disclosed.

#AFN2014

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` National Bank of Ukraine has denied information about a seizure of its building in Luhansk Region ‘

#AceFinanceNews – KYIV – April 07 – (Interfax) – The National Bank of Ukraine has denied information about a seizure of its building in the Luhansk region, saying its department in the Luhansk region is working normally.

“The information about a seizure of the National Bank building in the Luhansk region reported by some news media today is not true. As of Monday, April 7, 2014, the establishment was working normally. All divisions are in their places and are fulfilling their functions,” the National Bank press service reported on Monday.

Retraction: RIA Novosti

National Bank Rejects Reports of Branch Seizure in Eastern Ukraine

http://en.ria.ru/world/20140407/189086577/National-Bank-Rejects-Reports-of-Branch-Seizure-in-Eastern.html
14:33 07/04/2014

The National Bank of Ukraine denied reports on Monday that its branch in the eastern Ukrainian city of Lugansk was seized by demonstrators demanding greater regional autonomy, the UNIAN news agency reported Monday.

KIEV, April 7 (RIA Novosti) – The National Bank of Ukraine denied reports on Monday that its branch in the eastern Ukrainian city of Lugansk was seized by demonstrators demanding greater regional autonomy, the UNIAN news agency reported Monday.

“We officially announce that this information is false,” the agency said, citing the bank’s press service, which also added the branch is operating normally.

A group of protesters pushing for broader regional autonomy stormed government buildings in Donetsk, Lugansk and Kharkov in eastern Ukraine on Sunday, according to local media reports.

Nearly 3,000 people reportedly took control of the national bank’s building in Lugansk. Demonstrators flooded the streets in the city, waving Russian flags and chanting “Russia! Russia!”

Calls for secession and federalization have been spreading across Ukraine’s mainly Russian-speaking eastern regions after Ukrainian ultra-nationalists, who make up the bulk of the erstwhile opposition, rose to political prominence following a change of the country’s leadership that resembled a coup in February.

Protesters in eastern Ukraine, who have refused to recognize the legitimacy of the new authorities, have been gathering since March, demanding referendums on the status of their regions.

Talk turned to action in Crimea, a predominantly Russian-ethnic peninsula, which voted overwhelmingly to rejoin Russia in a referendum on March 16. The region’s reunification with Russia was finalized several days later.

Russian Foreign Minister Sergei Lavrov said late last month Russia has no intentions or interests whatsoever in crossing the Ukrainian border.

He also said Moscow believes the only solution to the political crisis in the country is constitutional reform providing for the federalization of the country, which is split linguistically into a Russian-speaking east and a Ukrainian-speaking west.

A recent report by Russia’s Institute for Globalization and Social Movements (IGSO) said the presidential election in Ukraine could increase separatist tendencies in eastern and southern regions, adding the country might split after the May 25 election.

el/yz/rm

© 2014 RIA Novost

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` World Bank advisers working in `Kiev ‘ are ` Preparing ‘ a ` Plan of Action ‘ to Support `Ukrainian Financial Sector’

#AceFinanceNews – KIEV – March 31 – Chairman of the National Bank of Ukraine (NBU) Stepan Kubiv on Monday held the final meeting with a group of World Bank (WB) experts that worked in Ukraine in the period from March 24 to 28.

The NBU press service reported that the experts with Aleksander Pankov in the head had worked in Kiev in order “to determine the priorities and activity guidelines for the Ukrainian financial sector reform that can be implemented with support of the World Bank.”

The WB experts during last week had prepared a plan of action to promote the Ukrainian financial sector reform, the NBU press service said.

This programme can be financed by means of a WB loan worth up to one billion US dollars, granted within the programme of loans for development.

“The action plan will allow the Ukrainian banking system to make a cardinal reconstruction and strengthen stability of the banking sector,” the NBU stresses.

Simultaneously with the WB expert group, a mission of the International Monetary Fund (IMF) was working in Ukraine.

The IMF mission was co-ordinating the terms for granting a loan worth 14 – 18 billion US dollars.

Russian Finance News

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` Ukraine’s Foreign Debt in 2013 Grew to 5.5 Percent to $145.52 Billion ‘

#AceFinanceNews – KIEV – March 22 – Ukraine’s foreign debt in 2013 grew 5.5 percent to $142.52 billion, the National Bank reported.

The government debt grew 9.7 percent to $29.922 billion over the past year, the debts of the country’s banks grew 6.4 percent to over $22.5 billion, the debts of other sectors rose 2.12 percent to $79.4 billion.
In February, the Ukrainian government voiced plans to borrow over $18.9 billion on the domestic and foreign markets in 2014.

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#AceFinanceNews Moscow March 19 Transition of banks operating…

#AceFinanceNews – Moscow – March 19 – Transition of banks operating in Crimea from the payment system of the National Bank of Ukraine to that of the Central Bank of Russia will be not difficult, although Russia has had no such precedents before, former Central Bank of Russia deputy chairman Konstantin Korishchenko told Itar-Tass on Wednesday.

Transition of Crimea’s banks under control of the Russian regulator will proceed painlessly, as “the system of correspondent relations exists between banks and any payments can be carried out within this system for a rather long time,” he said, adding that there would be no difficulties with personnel training.

Moreover, the transition process would create no reasons for curtailing business of certain banks, he said. #ANS2014

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