IMF support might reach USD 15-20 bln, Ukraine finance minister says

Emergency financial support to Ukraine from the International Monetary Fund (IMF) could reach USD 15 to 20 billion, Finance Minister Oleksandr Shlapak said on March 25. “I hope tomorrow we will fix the last discrepancies,” he told reporters before a Cabinet meeting on Tuesday.

Alexander Paraschiy: The prolongation of negotiations (which were planned to conclude on March 25) means that the dialogue between the Cabinet and the IMF mission is productive and both sides are hammering out details. Most likely, the Ukrainian side is trying to secure as much funding as possible to have stronger foreign currency reserves. However, according to our estimates for 2014, Ukraine will need much less than USD 10 bln to cover its currency deficit, especially in light of committed multi-billion support from international community, including the U.S. (about USD 1 bln), EU (EUR 1.6 bln) and Japan (JPY 150 bln).