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RE: My Georgian Diary. Day 5/7 ~ "Mountain direction"
howdy today zirochka...I'm so sorry that so far your new leader doesn't show any promise of improvements for the country. What does " temporary halt of tranche from IMF" mean?
Greetings! IMF is International Monetary Fund.
Ukraine has large external debt that it cannot repay. So, it need new credit to repay old. IMF has very low rate of interest, much lower than other creditors, but it place conditions to Ukrainian government. Anyway, it is a good deal for us.
IMF usually gives their money not as one large payment but divide it into several tranches.
So, this year Ukraine has to repay large sum, and without help of IMF it is impossible.
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howdy zirochka! Ok, I got it. I hope someday the country can get out of debt.
Me too. Thank you
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