Ukraine to revive dialogue with IMF shortly - President Yushchenko

Ukraine's President Viktor Yushchenko has assured that Ukraine would shortly revive a dialogue with the International Monetary Fund (IMF), he said this at a meeting with the G-7 ambassadors in Kyiv.

"We've worked out a letter to the IMF along with the Premier, Verkhovna Rada Speaker and, I think, the document would be completed today or tomorrow, he claimed.

Yushchenko reminded that the IMF Mission had earlier visited Ukraine, but "these talks can't be called successful". At the same time he voiced confidence that Ukraine has all prerequisites for reviving a dialogue with the IMF.

"The Ukrainian party successively adheres to the IMF recommendations in all directions," he noted.

The Head of State also informed that he would hold this Friday a meeting with the Prime Minister, parliament's Speaker, and NBU's leadership "to finally form a unified consolidated position in the negotiations with the IMF".

The IMF postponed extension of the second tranche of a 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