Ukraine pleads with IMF for USD 2 bln allocation

Ukraine asked the International Monetary Fund for USD 2 bln in emergency loans, Deputy Prime Minister Hryhoriy Nemyria said on Friday in an interview with the Financial Times. Nemyria said Ukraine would be in an ‘extremely difficult situation’ paying for state salaries and pensions, and covering foreign obligations, namely its monthly gas bill to Russia. A copy of the government’s request to the IMF signed by Prime Minister Yulia Tymoshenko, Finance Minister Ihor Umanskiy and NBU Governor Volodymyr Stelmakh appeared in media reports on Friday. Mykyta Mykhaylychenko: We estimate Ukraine might need some external support to cover expenses in coming months. While the IMF might agree to cover specific needs, such as gas payments, in our view, it will hardly agree to provide a loan without control over its spending in order to avoid accusations about destinations for the financing amid the presidential election campaign.