The Fund's resources will go to \" Naftogaz\" and banks. Pazarbasioglu Tymoshenko: Ukraine fulfilled all the conditions of the Fund.
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Tuesday, 28 July, the Council of the International Monetary Fund will consider the allocation of Ukraine third tranche stand-by at a rate of $ 3, 3 As a billion will be allocated money - known only to Tymoshenko. IMF mission considers that Ukraine has made progress in strengthening banking system and performed nearly all the conditions necessary for the next tranche stand-by. For example, in Ukraine continues recapitalization Banks, passed a law that regulates issues on improvement of the banking system in a crisis. President Viktor Yushchenko, Prime Minister Yulia Tymoshenko, National Bank Head Volodymyr Stelmakh and Acting Minister of Finance Igor Umansky signed a Letter of Intent for Cooperation. For Tymoshenko will increase loan rates for gas and tighten the work of tax and customs officers. Condition to reduce the budget deficit 2009. The IMF downgraded the forecast reduction in real GDP in Ukraine. At the end of 2009 it can reach 14%, not 8%, as previously mentioned. In this regard, The Foundation has made concessions to the Government and raised the deficit budget from 4% to 6% of GDP to include a deficit of "Naftogaz Ukraine". Plan bring the budget deficit to 6% of Cabinet will give the IMF before the end of the week. After this, the Fund sent to the Ukraine third tranche stand-by. As predicted First Deputy Chief of Presidential Secretariat Oleksandr Shlapak, the budget deficit the government will reduce, not by cutting costs and increasing revenue and tax customs administration. "In the latest edition of the Memorandum of Cooperation Ukraine and the IMF does not envisage a requirement of sequestration. The Fund has insisted on reducing the deficit. How are we going to do - our business, "- said Shlapak. Customs and Tax Administration received the go-ahead to strengthen the administration, Umansky said. The customs office will toughen the fight against "gray import" (goods, decorated with understated tariff payment by the incomplete declaration. In fact, the "gray imports" - smuggling, disguised as a legitimate import goods. - "NOW"). The struggle against "gray import" will increase the budget revenues 5%, "says Umansky. The tax administration will increase revenues the budget by reducing the VAT refund. According to Deputy Head Tax Administration Natalia Ruban, refuse to accept tax declarations VAT with a large sum in the 26th row. "This tax credit, which is not claimed for reimbursement, but also reduces the amount of tax liability, the is simply an entrepreneur pays nothing to the state. Since the beginning of the year we have removed a VAT of 1, 5 bln. "- explained in comments Ruban the newspaper "Delo". Acceptance of the Fund to increase tariffs for gas. Today, the people buying gas at an average of 620 USD for 1000 cubic meters. After price rise in price could reach 744 USD for 1000 cubic meters. "Blue fuel" more expensive for businesses teplokommunenergo with 872, 78 to 1047, UAH 3. for 1000 cubic meters. According to the decision of the National Commission on Regulation Electricity (NERC), the population will increase the cost of natural gas 20% from 1 September, and for utilities - from 1 October 2009. Since early 2010, prices will rise by 20% on a quarterly basis until they become equal to the cost of imported gas. In the Secretariat, the President believes that These events will allow "Naftogaz Ukraine" to the end of the year in addition to earn 700 million USD. Increasing cost of gas, "Naftogaz" will work before the end of 2009, 700 million UAH. NAC debtors will be fined. Sum debt to "Naftogaz" has reached 26 billion USD., 7 of 7 billion UAH shall teplokommunenergo, said the Premier. However, for the introduction of penalty penalties for gas debts will need to enact appropriate legislation. Where will flow the money? How and when receiving the second tranche, Timoshenko convince international lenders to let the third tranche of the loan to pay off budget deficit. President Viktor Yushchenko supports the position of Tymoshenko. Planned $ 1, 9 billion from $ 3 3 billion on direct repayment of external sovereign debt of the country. According to the Ministry of Finance, the combined state (Direct) and publicly-guaranteed debt in June was up by 8, 3% (or $ 2, 2 billion) and amounted to about $ 28, 683 billion in May to repay debt IMF Ukraine has allocated $ 1, $ 1 5 billion, 9 billion tranche would send the repayment external sovereign debt of the country. How does the government allocate the remaining $ 1 4 billion - the third tranche of intrigue, experts say. The memorandum does not specifically listed, where the government should send money. Recorded only that in the budget, including - to pay off foreign debts. According to Basil Yurchishin, Expert Centre for Economic and Policy Research the Alexander Razumkov sum of $ 1, 4 billion, is likely to be broken into three parts. "Certainly some of the money will be used to recapitalize banks, although it is not quite pay off the deficit. The second part will go possible to pay off the deficit "Naftogaz Ukraine". In September Nacu will pay the current bills for gas and accounts payable. The third part of the funds will be costs in the budget, but what - it's mystery to the public, "- said the Internet newspaper" NOW "Yurchishin. Advisor to Prime Minister on energy issues, Alexander Hudyma doubts that the Fund will be used to pay off the deficit, "Naftogaz". "I believe that it would be correct. But I doubt that will permit the Fund to finance NAC. Therefore, the government is trying to get a loan from Russia or Europe - We do not care from whom - where would be spelled out separately on a loan to stabilize the budget, "Naftogaz" - said the Internet newspaper "NOW" adviser. Concessions from the IMF Yurchishin notes that traditionally IMF does not allocate funds to repay the state budget deficit: "This is only with Ukraine, and is likely to be an exception to the rule. "The situation is looks like this: The Foundation makes concessions to Ukraine and the Ukrainian authorities to "knock out" from international lenders funds on favorable terms. In fact, "Softness" of the Fund has meant that the IMF funds to consider investment is difficult, they are "eaten through the budget," says the analyst. IMF to close all eyes. The impression that we need not fund, and we told him, - the expert. IMF - one of the few institutions that could control the financial Ukrainian authorities and monitor the disbursement of funds. The arrival of the IMF pledged make clear the debt position of "Naftogaz" to reveal the structure of the banking system owners. "But here - a complete disappointment. It seems that we do not need the IMF, and we to them, "- ironically Yurchishin. Director of the Institute World Economy and International Relations, National Academy of Sciences Valery Novitsky with Yurchishin agree. Tranches are coming, but how they are distributed - anyone unaware expert says. "Every time, when it comes tranche, it appears that Ukraine has a non-transparent system of wasting trenches, and these loans are not used even according to those objectives, which are set out in the statute of the IMF. Nothing does not change. There is no macroeconomic stabilization in Ukraine, not the stabilization of the foreign exchange market ", - quotes its InterMediaKonsalting. So hope for a clear distribution of the third tranche is not costs. To get the fourth tranche, the parliament must adopt the amendments to the law "On the reconstruction of the debtor's solvency or its ad bankrupt ", which will facilitate the possibility of pre-trial rehabilitation. To a fourth installment, Ukraine will publish the names of the owners of the banks. From late September to begin publishing details the banks, in particular, the quality of assets and liabilities, owners. It is assumed that the fifth-eighth tranche will be allocated on the basis of quarterly revision of the cooperation program. Overall, the program provides stand-by credit of $ 16, 5 billion, of which in November 2008, the Fund has allocated $ 4, 5 billion, in May - $ 2 8 billion
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