Ukraine asks IMF to provide at least USD 2bn by end of 2009.

By bne IntelliNews December 14, 2009
Ukraine hopes the International Monetary Fund Executive Board will endorse the decision on allocation of at least USD 2bn within the stand by program by the end of the year. Natalia Lysova, the pres secretary for Vice Prime Minister Hryhorii Nemyria has announced. The Financial Times has published a report citing Ukrainian Vice Prime Minister Hryhorii Nemyria that Ukraine has asked for emergency aid from the International Monetary Fund in size of USD 2bn to settle an extremely difficult situation with the redemption of the public foreign debt. According to the Financial Times , Nemyria said without this aid from the International Monetary Fund Ukraine will face difficulties with payment of pensions and wages in the budget sector, redemption of government bonds and monthly payment for natural gas to Russia . At the same time, the IMF considers that it is unlikely that the fourth tranche of the stand by loan to Ukraine will be allocated before the presidential elections, a representative of the IMF told the Ukrainian News agency. Earlier, Managing Director of the International Monetary Fund Dominique Strauss-Kahn pointed to the importance of reaching comprehensive consensus in Ukraine , which is required for the successful introduction of economic program supported by the IMF's financing. The IMF is ready for the co-operation with the Ukrainian authorities as soon as this consensus is reached.

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