BGN Entrepreneur

The IMF has turned down recession-battered Ukraine’s plea for a $2bn emergency loan before next year, a senior Ukrainian official said, citing his country’s failure to adopt a fiscally prudent 2010 budget and muster political consensus before the presidential election.
But officials said the financially stretched government had other options that might allow it to get through the coming months, to help pay gas import bills to Russia’s Gazprom as well as citizens’ pensions and wages. That could include IMF authorization for the release of $2bn in funds from Kiev’s central bank reserves to the government account.

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