Economy
international loansShlapak – Ukraine will spend international loans to repay external debts
Ukraine will use loans received from international organizations to repay foreign debts, Finance Minister Oleksandr Shlapak said in the interview for Uryadoviy Kurier newspaper.
“Loans from international organizations, which were allocated and which will be allocated to Ukraine, will be used only for repaying foreign debts. Together with our partners, we have calculated that all these resources are enough for getting out of debt. We don’t want to ask for extra money and continue to accumulate debts,” emphasized the Minister.
As a reminder, on April 30 International Monetary Fund approved a new Stand-By Arrangement to Ukraine in the amount of US $17.1 bn. Ukraine will also receive series of loans totaling US $1.5 bn in 2014.
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