- The FRN Daily News Brief 2019-03-19
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- The FRN Daily News Brief 2019-03-18
KIEV, Ukraine – Former Prime Minister of Ukraine Mykola Azarov said that the FBI is investigating the embezzlement of credit funds in Ukraine.
“For the past year, for example, they pulled out three billion dollars from the country. Where did I get this information from? I figured it out? No, I didn’t think it out, I took information from the NBU (the National Bank of Ukraine – ed.), I looked at the current account and calmly calculated: it turns out Ukraine borrowed two billion of some credit resources from the IMF (International Monetary Fund – ed.) and a billion at the World Bank – three, and brought 3.5 billion. Where did it go? Offshore,” Azarov said in an interview with the TV channel “112 Ukraine” .
According to Azarov, according to his data, foreign creditors are concerned about this and are checking.
“Foreign partners have repeatedly made a remark to the Kiev regime and warned: guys, be careful with the money that we give you. And I know that the investigation is underway, now the Federal Bureau of Investigation is doing this …” – said Azarov.
Azarov has called on Poroshenko to resign. Additionally, he has commented that Yanukovich dealt with Maidan protesters ‘too lightly’ resulting in the inability to use the Berkut security forces to safeguard the Ukrainian state from the U.S backed coup in 2014.
In December 2018, the IMF Board of Directors approved a new stand-by loan program for Kiev, according to which Ukraine will receive $ 3.9 billion. The term of its implementation is 14 months. At the same time, 1.4 billion dollars were paid by the decision of the fund in December 2018, and the remaining funds will be available on the basis of semi-annual reviews. According to the fund’s report on Ukraine, in 2019 Kiev will receive two tranches of $ 1.3 billion each on May 15 and November 15.
In December last year, the Board of Directors of the World Bank (WB) decided to provide Ukraine with guarantees on loans in the amount of $ 750 million. The guarantee for attracting foreign loans through the WB is a financial instrument of the bank that can be used by the government of the country only to receive budget support as a result of the implementation of programs of strategic and institutional reforms, the Ministry of Finance of Ukraine reported earlier. One of the conditions for the approval of a guarantee is also to reach an agreement with the International Monetary Fund (IMF) on financing.