Ukraine Bailout: Russia to vote against IMF loan disbursement to Ukraine

16:36 Sep. 12, 2016

Russia to vote against IMF loan disbursement to Ukraine

Russia's Finance Minister Anton Siluanov attends a meeting of the Russian Government (Getty Images)

IMF to discuss next tranche for Ukraine on September 14 

Russia will vote against the allocation of the next loan tranche of the International Monetary Fund (IMF) to Ukraine, UNIAN reported on September 12 referring to Russian Finance Minister Anton Siluanov.

"Today, we will give all the necessary instructions to our representative at the International Monetary Fund to vote against a decision on the provision of the IMF loan tranche to Ukraine, because we believe it has been made in non-compliance with the regulations," Siluanov said at a briefing in Moscow.

Read also British court to hear Russian case over Kyiv's USD 3 billion loan default - RFE/RL

 

However, he expressed doubt that the Russian Federation would be able to block the disbursement of loan funds.

"We as a member of the IMF have the right to vote in this organization, surely we will express our position, will defend it. I find it difficult to predict what will be the final decision that the IMF Executive Directors adopt. Certainly, the majority of IMF members will possibly have a different view. Russia's vote will not be decisive in this case," Siluanov said.

Read also Ukraine chases cuts in ‘unrealistic' budget to meet IMF pact - Bloomberg

IMF is expected to discuss the next loan tranche for Ukraine on September 14.

 

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