The IMF is very worried about the solvency of Ukraine

In the International Monetary Fund (IMF), they are concerned about the ability of Ukraine to return $ 8 billion, which it owed to the Fund at the end of June. The IMF said on Monday that Ukraine should provide creditors from Washington with more thorough information about the state of its economy due to a relatively big debt.

Earlier, the IMF froze its program to provide 15 billion dollars of a credit line after Kyiv’s refusal to raise gas prices for the population. The term of that tranche has officially expired back in December 2012. However, Ukraine managed to receive two payments totaling 3 billion 400 million dollars.

Given the amount of debt to the IMF, Ukraine should participate in financial monitoring, the Fund said in yesterday. Expanded monitoring of the state of the Ukrainian economy will be held until December, when the IMF Board of Directors will draw its conclusions.

“Since the amount of the debt of Ukraine to the IMF exceeds 200 percent of the previously provided quota, the software monitoring post is a standard procedure. Consultations as part of a meeting of the Board of Directors are scheduled for approximately December 2013, ”the IMF said in a statement.

Today, Ukraine will have to extinguish the next payment for Washington's debt.

Ukraine and the IMF began negotiations at the beginning of this year to consolidate a new packet of assistance, but the Kiev authorities found alternative sources of lending in foreign markets and made it clear that it does not require new funds from the IMF.

The Fund last week said that he did not discuss the details of the new program for Ukraine since April this year.