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IMF mission extends work in Ukraine to check loan compliance terms

The mission of the International Monetary Fund (IMF) has extended its visit to Ukraine until the end of this week to monitor Ukraine's compliance with loan allocation terms, the press office of Ukraine's Finance Ministry reported on Thursday.

Ukrainian parliament-appointed Prime Minister Arseniy Yatsenyuk earlier told a government meeting that Ukraine expected to receive a second IMF tranche worth $1.5 billion to stabilize its economy.

"I hope that our talks will be a success. According to our preliminary estimates, Ukraine has complied with the criteria prescribed in our program with the IMF," Yatsenyuk said.

At the start of the IMF mission visit to the ex-Soviet republic, Ukraine's Finance Minister Alexander Shlapak told the mission that the Ukrainian side was open for dialog and cooperation.

The IMF Executive Board approved in late April a two-year stand-by loan facility for Ukraine worth a total of $17.01 billion to prop up Ukraine's flagging economy. Ukraine received the first $3.19 billion tranche in early May 2014.

Meanwhile, Russia's gas giant Gazprom said on Tuesday that Ukraine had failed to pay for natural gas supplies in the first 15 days of June, increasing its overall gas debt to Russia to $5.3 billion.

[Source: Itar Tass, Kiev, 10Jul14]

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