UPDATE 1-Ukraine acting finmin says IMF tranche not "crucial"

KIEV, Nov 11 (Reuters) - Ukraine's economy and currency market could withstand any pressures should the International Monetary Fund delay a $3.8 billion bailout tranche, acting finance minister Ihor Umansky said on Wednesday. The IMF has suspended its $16.4 billion standby programme after parliament passed a bill raising the minimum wage, which the government opposed and said would cost an additional $10 billion by the end of next year. "This tranche is not crucial for ensuring balance on the currency markets. I do not see any risks to the economy (if the tranche is delayed)," Umansky told reporters. Analysts have said the government may be forced raise already sky-high yields on domestic bonds or pressure the central bank to print money, in order to cover the budget deficit that would have otherwise been covered by the IMF funds. Some have also worried that state energy firm Naftogaz would be unable to pay for Russian gas, sparking another energy row that last year led to supply cuts in January and left hundreds of thousands of Europeans out in the cold. Deputy Prime Minister Hryhory Nemyrya said on Tuesday Ukraine would use the IMF's Special Drawing Rights -- unlinked to the bailout -- to pay for gas in November but that future payments may be at risk if the programme is not restarted. The IMF injected about $250 billion of liquidity for its members in August, including about $2 billion for Ukraine. (Reporting by Natalya Zinets; writing by Sabina Zawadzki, editing by Mike Peacock) Keywords: UKRAINE IMF/ (Kiev bureau; tel: [phone]; RM: [e-mail]) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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