Ukraine’s President, IMF mission head discuss further cooperation terms
April 15, 2009
On April 13, Ukraine’s President Viktor Yushchenko met with IMF mission head Ceyla Pazarbashioglu.
The two sides discussed how to revive cooperation with the IMF in Ukraine. The main issues were whether the 2009 State Budget would be revised, whether NAK Naftogaz Ukrainy would balance its finances, and whether pension reform would be undertaken.
The two sides also discussed the issue of recapitalizing banks and the further conditions for working with the IMF under the Stand-By program.
On November 5, 2008, the International Monetary Fund agreed to issue Ukraine a stabilization loan worth US $16.43bn. That same month, Ukraine received the first tranche of this loan, US $4.5bn.
In January 2009, an IMF mission came to Ukraine in order to decide whether or not to issue the second tranche.
In February, IMF mission head Ceyla Pazarbashioglu announced that the Fund would once again review of the agreement on the Stand-By loan between the IMF and Ukraine and determine whether or not to issue the second tranche of the credit.
The head of the IMF mission to Ukraine arrived in Kyiv on April 9.
Tags: IMF
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