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Ukrainian delegation leaves for Washington for talks with IMF
24.01.2012 15:19 "Agro Perspectiva" (Kyiv) —
A Ukrainian delegation has left for Washington to hold talks with the International Monetary Fund (IMF), Ukrainian Finance Ministry spokesperson Viktor Kosarchuk has said.
«The delegation headed by Finance Minister Valeriy Khoroshkovsky has left for talks with the IMF,» he said. The new finance minister said on January 20 that the purpose of this visit was the resumption of cooperation and «the receipt of a loan, if this is possible, first and foremost, as part of the program that was signed earlier.» According to Khoroshkovsky, «we have about USD 10 billion left there.» At the same time, the minister shared the confidence of Ukrainian Prime Minister Mykola Azarov that Ukraine can do with its own funds, but cooperation with the IMF is necessary to maintain the country’s image on the borrowing market. As reported, Ukraine’s key creditor in July 2010 approved a Stand-By Arrangement worth more than USD 15.5 billion and was ready to allocate in 2011 USD 1.5 billion to Kyiv each quarter to support reforms. Immediately after the approval of the cooperation program, Ukraine received the first tranche of USD 1.89 billion. The decision to disburse the second tranche of USD 1.5 billion was taken by the IMF Executive Board on December 22, 2010. However, since 2011, the country was unable to obtain any of the planned tranches due to the non-fulfillment of its commitments assumed under the program. In particular, the country has not raised gas prices for households and heat suppliers.
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