President concerned over Ukraine's possible failure to get IMF's another tranches

President Viktor Yushchenko is concerned over Ukraine may not receive another tranches of the IMF stand-by arrangement, he was speaking at the meeting with EBRD President Thomas Mirow.

"Put in the 2009 state budget USD 12 billion of the IMF assistance is placed in doubt," Yushchenko said.

He noted serious divergences between the IMF Mission and the Cabinet of Ministers as regards the state budget of Ukraine for 2009 and promised to do his best to make the government improve the situation.

The IMF postponed extension of the second tranche of the stand-by arrangement to Ukraine (planned for February 15), having called on the authorities to cut fiscal deficit, enhance monetary policy and control banking sector.

On November 5, 2008 the IMF approved a two-year Stand-By Arrangement (SBA) for about USD 16.4 billion to help the authorities restore financial and economic stability. On November 10, the first tranche at USD 4.5 billion came in Ukraine.

UKRINFORM