In a message dated 9/8/99 8:18:18 AM Central Daylight Time, AOL News writes: << Subj: IMF Approves New Loans for Ukraine Date: 9/8/99 8:18:18 AM Central Daylight Time From: AOL News BCC: Ahab42 IMF Approves New Loans for Ukraine .c The Associated Press KIEV, Ukraine (AP) - The International Monetary Fund approved the release of $184 million to the Ukraine from a $2.6 billion aid package, the central bank said Wednesday. The funds were expected to arrive in a few days, National Bank spokesman Dmytro Rikberg said. The former Soviet republic is desperate for new loans so that it can meet foreign debt obligations of more than $3 billion next year. The government's own revenues are far below target because of severe economic problems in the country. Some analysts predict that Ukraine will default on its 2000 debt obligations, but government officials have insisted they will meet them in full if the IMF continues to disburse aid. The fund, which approved the three-year loan for Ukraine in 1998, has suspended disbursements several times because the government didn't meet its economic reform requirements. While agreeing to disburse the latest money, IMF directors repeated their long-standing demands that Ukraine speed up privatization and approve a realistic budget for 2000 to make debt servicing easier. AP-NY-09-08-99 0917EDT Copyright 1999 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without prior written authority of The Associated Press. Announcement: America Online has added Reuters newswires to News Profiles. To add Reuters articles to your daily news delivery, go to KW: <A HREF="aol://5862:146">News Profiles</A> and click on "Modify Your News Profiles." Then click "Edit" and add Reuters from the list on the left. To edit your profile, go to keyword <A HREF="aol://1722:NewsProfiles">NewsProfiles</A>. For all of today's news, go to keyword <A HREF="aol://1722:News">News</A>. >>
IMF Approves New Loans for Ukraine .c The Associated Press KIEV, Ukraine (AP) - The International Monetary Fund approved the release of $184 million to the Ukraine from a $2.6 billion aid package, the central bank said Wednesday. The funds were expected to arrive in a few days, National Bank spokesman Dmytro Rikberg said. The former Soviet republic is desperate for new loans so that it can meet foreign debt obligations of more than $3 billion next year. The government's own revenues are far below target because of severe economic problems in the country. Some analysts predict that Ukraine will default on its 2000 debt obligations, but government officials have insisted they will meet them in full if the IMF continues to disburse aid. The fund, which approved the three-year loan for Ukraine in 1998, has suspended disbursements several times because the government didn't meet its economic reform requirements. While agreeing to disburse the latest money, IMF directors repeated their long-standing demands that Ukraine speed up privatization and approve a realistic budget for 2000 to make debt servicing easier. AP-NY-09-08-99 0917EDT Copyright 1999 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without prior written authority of The Associated Press. Announcement: America Online has added Reuters newswires to News Profiles. To add Reuters articles to your daily news delivery, go to KW: <A HREF="aol://5862:146">News Profiles</A> and click on "Modify Your News Profiles." Then click "Edit" and add Reuters from the list on the left. To edit your profile, go to keyword <A HREF="aol://1722:NewsProfiles">NewsProfiles</A>. For all of today's news, go to keyword <A HREF="aol://1722:News">News</A>.
