OREANDA-NEWS. On 9 September 2009 was announced, that the IMF plans to provide the fourth tranche (USD 3.7bn) of its credit line to Ukraine on 15 November 2009. The tranche will be provided if the government stops the increase of the Budget Deficit and recapitalizes the largest problem domestic banks and the NBU increases its independency in the monetary policy. Also it was announced that the fifths tranche of USD 0.6bn is to be provided in February 2010. In August 2009 the IMF announced that it was considering the provision of four more tranches to Ukraine amounting to USD 6.3bn.

By nowadays Millennium Capital sees the tranche provision to be questionable, since the government lacks funds to maintain low budget deficit. Nevertheless, the tranche provision may enable the NBU to decrease the devaluation pressure on the national currency. Namely, the devaluation pressure is expected to rise in September and October, related to tightening of NBU auction conditions and the redemption of foreign loans and Eurobonds by the economic agents. NBU interventions of at least USD 1bn will enable to maintain UAH/USD rate at the current level.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of tickets selling for its flights due to high arrearage to the creditors of the company.