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EBRD welcomes resumption of talks between Ukraine and IMF
11.02.2013 08:02 "Agro Perspectiva" (Kyiv) —
The European Bank for Reconstruction and Development (EBRD) has welcomed the resumption of talks between Ukraine and the International Monetary Fund (IMF), the EBRD’s Managing Director for Turkey, Eastern Europe, Caucasus, and Central Asia Olivier Descamps said in an interview with Kommersant-Ukraine, NRCU reports.
«Macroeconomic stability in the country has serious implications for business. It helps look into the future with more confidence. That is why we welcome the resumption of talks between Ukraine and the IMF. The fund’s loan program will help stabilize the situation in the country, which will have a positive effect on the plans of investors on the Ukrainian market,» he said. Descamps recalled that Ukraine was heavily dependent on exports of raw materials, first and foremost, metallurgical products, the demand for which in the world has decreased. «The pace of the growth of the Ukrainian economy is also being influenced by the euro zone crisis — countries that have significant trade relations with the EU were affected more than others,» the EBRD’s managing director said. Therefore the EBRD envisages a slight growth of the Ukrainian economy in 2013 — 1%, but it expects that gradual stabilization in the euro zone will have a positive impact on Ukraine in the second half of the year. «In this regard, we expect the growth of the Ukrainian economy to accelerate from 2014,» Descamps said. As reported, the IMF mission began its work in Ukraine from January 29. Ukrainian Prime Minister Mykola Azarov said that Ukraine would be able to achieve GDP growth of 3% in 2013.
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