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“We planned to allocate another tranche according to that arrangement. Yet in the current situation we have many questions as to how the money will be used and how it will be paid back," said Siluanov.
Conditions for the second tranche were similar to those of the first, namely a two-year loan at a rate of 5 percent per annum, Siluanov added.
He also doubted the feasibility of currency interventions to support the hryvnia amid political instability.
“The national bank of Ukraine can now make efforts to bolster the hryvnia, but demand for foreign currency amid political uncertainty will remain high,” he said. “Therefore, interventions can prove a waste of gold and currency reserves that will lead to nothing and will not prevent the hryvnia's devaluation.