KIEV, April 14 – The Ukrainian government headed by Yulia Tymoshenko has sent foreign loans taken by the previous government to refund defaulted Soviet-era deposits, which has added to inflation, according to the head of the National Bank of Ukraine, Volodymyr Stelmakh.

"The previous government borrowed, but did not spend [the funds] and invest them in securities. The new government is using [these funds]," he said, speaking at the parliament last week.