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. Last Updated: 07/27/2016

IMF Installment Expected This Week




Russia will receive its delayed credit of $670 million from the International Monetary Fund sometime in the next few days, Interfax reported Monday.


Interfax quoted a senior Finance Ministry official as saying the tranche, ordered released by the IMF last month, should be in Russian coffers early this week.


The IMF held up disbursement of the tranche last autumn because of the government's sagging tax collections. But an IMF mission recommended in December disbursement when authorities detailed their new revenue-collection plans.


An IMF team is expected in Moscow in late January to review government compliance under its $10 billion loan program. The review will focus on tax collection, Itar-Tass said.


The Russian government undergoes quarterly performance reviews under the program, and the IMF has repeatedly withheld funding because of low revenue collection.