IMF rules out removal of its funds from Ukraine by local oligarchs

12:00, 18.09.2015 1 min read

The International Monetary Fund (IMF) has ruled out that the funds provided to Ukraine under the Extended Financing Facility (EFF) of the International Monetary Fund (IMF) have been withdrawn by Ukrainian oligarchs, Director of the Communications Department at IMF Gerry Rice said at a press briefing in Washington on September 17.

"In all cases the IMF's funds – there are careful safeguards in place as to how those funds are used and we disperse as part of the program and it's to support balance of payments and strengthen reserves. That's where our resources go. My information is that these allegations that you refer to are unfounded, unfounded," he said in response to a statement of a journalist that a lot of money, billions allegedly has been taken out of the country to offshore accounts in a rather simple scheme from the outside by the bank belonging to a Ukrainian oligarch who is now again allegedly in the United States.