OREANDA-NEWS. On 17 August 2009 was announced, that the International Monetary Fund's board of directors voted to allocate USD 250 bln on August 28 and USD 33 bln on September 9 to member nations to support foreign exchange reserves. About USD 100 bln of the first allocation is to be directed to emerging and developing countries, including SDR 1,071.1 mln to Ukraine, the equivalent of USD 1,585 mln to bolster the National Bank of Ukraine's currency reserves. Andrii Parkhomenko: The first allocation will increase the NBU's reserves by 5% (if we use July's number of USD 29.6 bln). It is unclear how much of the second USD 33 bln allocation Ukraine will receive, but based on the allocation ratios for the USD 250 bln, Concorde Capital believes it will be about USD 150-200 mln. Notably, in order for the NBU to make use of the funds for currency interventions, it will first have to exchange the SDRs into US dollars.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.