Sunday, June 3, 2007

Govt permits attracting external borrowings up to one billion USD

The Cabinet of Ministers authorized the Finance Ministry to attract external borrowings to the tune of up to one billion USD, First Deputy Finances Minister Vadym Kopylov told journalists.

According to him, the Govt resolution provides for no exact sum, still, he noted the 2007 national budget allows to borrow one billion USD. "We won't borrow more, but whether less depends on efficacy of our measures," he said.

Kopylov predicts Finances Ministry' making external borrowings in June if the political situation in the country is stable.

In January the Finances Ministry planned to borrow 9.8 billion UAH (one USD=5.05 UAH) to cover the shortage of the general fund of the budget, including 6 billion UAH external and 3.8 billion UAH home borrowings.