KIEV (Reuters) - The International Monetary Fund’s board has signed off on a $17 billion bailout for Ukraine to boost the former Soviet state’s failing economy, weakened by months of upheaval and a stand-off with Moscow that has triggered the worst East-West crisis since the Cold War.
Ukraine desperately needs to increase revenues to try to meet its foreign currency debt obligations, and the first disbursement of $3.2 billion to Kiev will help it meet immediate payments.
Below is a list of what Ukraine needs to pay and what it expects to receive in credits this year.
(Figures include both Finance Ministry and Central Bank obligations, but do not include debts owed by state companies such as Naftogaz, which now owes $3.5 billion for gas imports from Moscow, according to Russia’s Gazprom.
$2.9 billion to the IMF - due over the course of the year
$1 billion on Eurobonds in June; $0.9 billion in coupon payments
$0.9 billion due to other international financial organizations/countries
$1.3 billion repayment of local dollar bonds
$1.6 billion early repayment of local dollar bonds
$0.5 billion local bond coupon payments and T-bills
$3.2 billion from the IMF with the program approval
$2.7 billion from the European Union; expects up to $1 billion this month
$1 billion from World Bank
$1 billion guarantee from the United States
$1 billion Eurobond issue possibly in the second half of the year
$0.3 billion from local dollar bond placement
Three more IMF disbursements of $1.4 billion in July, September and December, following reviews of the aid package
Reporting by Natalia Zinets; Additional reporting by Anna Yukhananov; Writing by Elizabeth Piper; Editing by Will Waterman and Leslie Adler