IMF intends to regulate Ukraine's economic policy.

By bne IntelliNews November 1, 2011
The IMF intends to regulate the country's economic policy in accordance with the challenges of time, IMF Mission Chief for Ukraine Thanos Arvanitis announced. According to him, during the IMF mission's visit to Ukraine, which will last until Nov 4, the sides would discuss the implementation of the state budget in 2011 and the main figures of the draft budget for 2012. To note, PM Mykola Azarov said that the government and the NBU had fulfilled almost all of the targets as part of the implementation of a memorandum with the IMF. An IMF mission arrived in Ukraine on October 25, 2011 and began to study the implementation of a previously agreed program of cooperation. They include the holding of pension reform, the adjustment of gas tariffs for households and heat suppliers, and the search of funds to cover the deficit of Naftohaz. In Jan-Sep, Ukraine lost the opportunity to obtain three quarterly tranches of about USD 1.5bn each from the IMF under the Stand-By Arrangement totaling USD 15.5bn due to the violations of the terms of conducting pension reform, which were agreed with the IMF (pension reform was launched on October 1), and due to the failure to raise gas prices. The government still hopes to reach agreement with the mission on the last point, citing as an argument "ending" talks with Russia on a reduction in the price of gas.

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