Ukraine's Vice Premier and Social Policy Minister Sergiy Tigipko 2 days ago at 10:54 | Interfax-Ukraine Ukraine's Vice Premier and Social Policy Minister Sergiy Tigipko doesn't believe that Ukraine should turn down the money of the International Monetary Fund. The vice premier said this on ICTV Channel late on April 4, when asked to comment on Ukrainian Prime Minister Mykola Azarov's statement that Ukraine could refuse to take the next tranche of a loan from the International Monetary Fund.
"We ought to understand that this money goes into the foreign exchange reserves of the National Bank. The whole of the last tranche, which we were to get, which is around $1.5 billion, had to go to the foreign exchange reserves," he said.
The vice prime minister also said that the NBU's current foreign exchange reserve is 36 billion (he did not specify the currency), which is close to the pre-crisis levels.
Tigipko also noted that the failure to get the next tranche of the IMF loan would be a bad signal to investors, which would affect the level of investment.
"If we do not get (the tranche under the IMF loan program), the budget apparently won't suffer, but I can say that it would be a bad signal to all investors without exception," the official said.
"It (the IMF) for us today means the green light to investors," Tigipko said.
He said that last year's direct investment in Ukraine totaled UAH 5 billion, which is much less than the average.
Tigipko also admitted that they could partially repay the debts from the foreign exchange reserves of the National Bank of Ukraine.
"When I headed the National Bank, I offered to prepay the loan from the International Monetary Bank," he said.
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