WASHINGTON (QHA) -

On December 16, 2015, the Executive Board of the International Monetary Fund (IMF) decided that the claim arising from the US$3 billion loan extended by Russia to the Azarov-Yanukovitch government in December 2013 is official, says a statement published on the IMF’s official website.

“The Executive Board of the International Monetary Fund (IMF) decided that the claim arising from the $3 billion Eurobond issued by Ukraine on December 24, 2013 and held by Russia’s National Wealth Fund (NWF) is an official claim for the purposes of the Fund’s policy on arrears to official bilateral creditors,” reads the statement.

Since no objections were raised, the IMF’s decision took effect automatically at the close of the business day in Washington where the organization’s headquarters is located.

QHA