Expert — Russian credit is more profitable than IMF credit
Loan to the Russian Federation has already strengthened the Ukrainian hryvnia at the Foreign Exchange Market. The IMF loan would result in the devaluation of the Ukrainian hryvnia and the raising of tariffs for the population.
According to Vice Prime Minister of Ukraine Yuriy Boyko, the credit given by the Russian Federation is more beneficial for Ukraine than the loan, suggested by the IMF. «The condition of the Russian loan is simple — just 5 % per annum and no additional conditions to our society and the Ukrainian economy. IMF loan would increase social tariffs with the subsequent devaluation of the the Ukrainian hryvnia», the Vice-Premier said at the session of the round table “Unite Ukraine”. According to Unicredit Bank, after Yanukovych’s consultation with Russian President Vladimir Putin, financial rate of hryvnia against vs US dollar fell back to 8.25 — 27, so that the problem of shortage of foreign exchange reserves is removed. The rates of return’s become the same.
In addition, a new loan program in the sphere of construction of the transnational transit corridors, approved in the course of the meeting the heads of the countries, is also very beneficial for Ukraine. Favorable geographical position of Ukraine in the center of the Eurasian transit corridor predetermines its formation and development as a powerful European transit state.