Kyiv, November 28 (Interfax) - Head of the Ukrainian National Bank council Petro Poroshenko has accused authorities of the inefficient use of an International Monetary Fund loan, while one of the leaders of the opposition Party of Regions, former Deputy Prime Minister Mykola Azarov said that there was no feedback from using the first tranche of $4.5 billion.
“I can officially state that IMF resources are used very inefficiently,” Poroshenko told a Russian-Ukrainian forum in Kyiv ion Friday.
The IMF provided Ukraine with a chance to reduce the deficit of its balance of payments and to switch to the work in conditions of the global financial and economic crisis with the minimum social impact, he said. “But authorities should do something for this, and they do nothing now,” Poroshenko said.
Azarov rapped the activity of the National Bank at the forum, saying that it gave Hr 50 billion in refinancing funds to banks; however, this resulted in the fact that the exchange rate of the national currency dropped 1.5 times rather than banks increased loans to their clients.
He also criticized authorities for the fact that they decided to pursue the policy proposed by the IMF. Which does not take into account Ukraine’s national interests, in exchange to the $16.4 billion loan from the fund.
