KIEV, May 14 – The Ukrainian cabinet has increased the nominal interest rate for treasury bills from 8% to 16% per annum, the acting finance minister, Ihor Umansky, told the press on Wednesday.

"At present t16% is the nominal interest rate, and of course, the efficient interest rate would be higher," he said.

Umansky also said that a decision to cut the size of a first tranche from UAH 500 million to UAH 200 million was made.