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Kiev - The International Monetary Fund's board has signed off on a $17bn 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 $3.2bn 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 $3.5bn for gas imports from Moscow, according to Russia's Gazprom.
Ukraine owes:
- $2.9bn to the IMF - due over the course of the year;
- $1bn on Eurobonds in June; $0.9bn in coupon payments;
- $0.9bn due to other international financial organisations and countries;
- $1.3bn repayment of local dollar bonds;
- $1.6bn early repayment of local dollar bonds;
- $0.5bn local bond coupon payments and T-bills;
Ukraine expects:
- $3.2bn from the IMF with the program approval;
- $2.7bn from the European Union; expects up to $1bn this month;
- $1bn from World Bank;
- $1bn guarantee from the United States;
- $1bn Eurobond issue possibly in the second half of the year;
- $0.3bn from local dollar bond placement;
- Three more IMF disbursements of $1.4bn in July, September and December, following reviews of the aid package.
