IMF says reduced payout to Ukraine a 're-phasing' of bailout
- Top 10 News for 9/26 - 9/30: Deutsche Bank Soars on Settlement; Twitter Back in the M&A Fray; Nike 'Just Didn't Do It' in Q1
- Wall Street rallies, led by Deutsche Bank, financials
- Viacom (VIAB) Forms Special Committee; Will Explore Potential Combination with CBS (CBS)
- Deutsche Bank (DB) Said Near $5.4B Settlement with U.S. - AFP
- Oil up second straight month on OPEC-fueled rally
The International Monetary Fund (IMF) logo is seen at the IMF headquarters building during the 2013 Spring Meeting of the International Monetary Fund and World Bank in Washington, April 18, 2013. REUTERS/Yuri Gripas
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
WASHINGTON (Reuters) - The International Monetary Fund said on Thursday that the reduced $1 billion loan disbursement to Ukraine represents a "re-phasing" of the country's bailout program to align it with required policy changes.
IMF spokesman Gerry Rice told a regular briefing that it was "not unusual" to see such a reduction after policy reviews. The disbursement, which was delayed for months as economic and anti-corruption reforms stalled, had been initially planned at $1.7 billion.
"We have these reviews precisely to calibrate the policy recommendations and to make sure that the financing is aligned with the balance of payments needs and with the policy implementation. That's what has happened in this case. It's really a re-phasing, is how I would characterize it, of the actual dollar amounts."
Rice declined to comment on a statement from Ukraine's central bank chief that the next tranche would be about $1.3 billion.
(Reporting by David Lawder; Editing by Chizu Nomiyama)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Volkswagen will pay $1.21 billion to settle U.S. dealer claims
- Accounting software maker BlackLine files for IPO
- Viacom forms committee to consider Redstone's CBS merger push
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!