Asked by: Douglas Alexander (Labour (Co-op) - Lothian East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what contribution the UK will make towards the $17 billion IMF package for Ukraine.
Answered by Andrea Leadsom
As a member of the IMF, the UK will be involved in the IMF's $17 billion programme for Ukraine. The UK's contribution to the Fund is not public spending and would have no fiscal implications on the UK: it does not add to our debt or deficit. With its preferred creditor status, lending to the IMF is one of the most credit-worthy institutions in the world and no-one who has ever provided money to the IMF has ever lost that money.
Asked by: Douglas Alexander (Labour (Co-op) - Lothian East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate he has made of the proportion of the $3.2 billion released by the IMF to Ukraine's interim government that will be spent on servicing debt to Russian gas providers.
Answered by Andrea Leadsom
The IMF's programme is intended to put the Ukrainian economy on a more stable footing, part of which involves Ukraine servicing its legitimate debts. The actual repayment of Ukraine's gas debts is a matter for the Government in Kyiv to discuss with their creditors.
Asked by: Douglas Alexander (Labour (Co-op) - Lothian East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what the Government's latest assessment is of the likely timeframe within which International Monetary Fund funds will be released for the Ukraine.
Answered by Andrea Leadsom
The IMF Board is expected to consider Ukraine's application for a financial assistance programme in April. The agreement of a programme and subsequent disbursement of funds is also dependent on the Ukrainian authorities adopting a set of reforms as set out by the IMF.
The latest IMF statement, following staff level agreement with the Ukrainian authorities on a potential programme, can be found at:
http://www.imf.org/external/np/sec/pr/2014/pr14131.htm