IMF transfers third tranche to Ukraine

The International Monetary Fund distributed the third, USD 3.3 bln, loan tranche to Ukraine, Acting Finance Minister Ihor Umanskiy said, according to various local news reports. The IMF board approved the transfer of the funds at a meeting on July 28 and made the transaction on July 31. Andrii Parkhomenko: Although the usage of the funds was not officially reported, we suspect that Ukraine tapped the third tranche to repay its 2009 sovereign Eurobonds (USD 500 mln) and Gazprom for imported natural gas (USD 605 mln) yesterday. As it was earlier stated by the IMF, the third tranche was meant to cover Ukraine’s external obligations.