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Archive for February, 2009

Association of Ukrainian Banks proposes buyout of public loans

Posted by the Editor on February 27, 2009


News / 27 February 2009 | 17:35

Association of Ukrainian Banks proposes buyout of public loans

The Association of Ukrainian Banks has called on the Cabinet of Ministers to support borrowers through the buyout of their loans from banks, National radio informed.

“The government may render assistance to the borrowers of banks who received currency loans and are currently unable to service them in full. In particular, the government can select certain borrowers, who received flat loans, calculate their annual debts and buy [these debts] from banks. These will be relatively small funds, but this will be real assistance to both borrowers and banks,” the association said.

Bankers believe that the government could have also realized a similar scheme in relation to haulers who raised currency loans to buy vehicles. According to the association, these steps would help restore the quality of credit portfolios and regain confidence in the banking system.

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IMF says will give cash to Ukraine

Posted by the Editor on February 27, 2009


News / 27 February 2009 | 16:40
IMF says will give cash to Ukraine

IMF says will give cash to Ukraine

The IMF will release the second tranche of a $16.4 billion loan to Ukraine if Kiev proves it can finance a budget deficit, the Fund`s resident representative Max Alier was quoted as saying on Friday, according to Reuters.“Our position now is such that if the government can agree on securing additional financing for its deficit, we will be pleased to release the second tranche,” Interfax Ukraine news agency quoted Alier as telling a conference.

The 2009 budget passed by parliament before the New Year provides for a deficit equal to 3 percent of gross domestic product, while the International Monetary Fund had stipulated that the loan was contingent on a balanced budget.

Reuters

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Tymoshenko calls upon all branches of power to consensus in the issue of continuation of cooperation with IMF

Posted by the Editor on February 27, 2009


News / 27 February 2009 | 15:50

Tymoshenko calls upon all branches of power to consensus in the issue of continuation of cooperation with IMF

Tymoshenko calls upon all branches of power to consensus in the issue of continuation of cooperation with IMF

Prime Minister of Ukraine Yulia Tymoshenko will try to convince the President of Ukraine and the Head of National Bank of signing a letter to the IMF leadership concerning the second credit tranche for Ukraine. The Head of Government said during a meeting with her adviser, former PACE Monitoring Committee’s Rapporteur Hanna Severinsen, Government portal reported.

Yulia Tymoshenko told that she would raise this question now at a meeting with the President of Ukraine, Parliament’s Head, NBU Head and leaders of parliamentary factions.  

“It is very important for Ukraine to continue cooperation with the IMF and I hope that during the today’s meeting with the President, NBU and Parliament’s leadership we will reach understanding on the way out of the situation and sign the joint letter to the IMF,” Yulia Tymoshenko noted.

Yulia Tymoshenko reminded that the Government, when it had signed the relevant statement to the IMF two week ago, could continue cooperation in this direction but was impeded by the President and NBU head’s stand who failed to sign this document. According to Yulia Tymoshenko, “If we succeed to stop the political confrontation, Ukraine has a chance to obtain the IMF financial aid”.

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Situation on seized ship with Ukrainian citizen on board remains stable

Posted by the Editor on February 27, 2009


News / 27 February 2009 | 15:00

Situation on seized ship with Ukrainian citizen on board remains stable

The situation on the Saldanha, a ship seized by Somali pirates, with one Ukrainian citizen on board, remains stable, according to the press service of the Ukrainian Foreign Ministry.

The pirates have not laid down any demands yet.

According to Kardis Marine, the Greek company operating the vessel, the ship’s captain said by phone that the vessel anchored off the coast of Somalia on February 24. The captain said the crewmembers feel good. There is enough food, drinking water and fuel on board of the ship, he added.

The Saldanha, a Maltese-flagged and Greek-operated ship, which is owned by the Marshall Islands, was seized by pirates on February 22. The crew includes 19 citizens of the Philippines, two Romanians, and a Ukrainian.

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International community supports Ukraine as observer in OECD

Posted by the Editor on February 27, 2009


News / 27 February 2009 | 14:10

International community supports Ukraine as observer in OECD

International economic organizations are interested in seeing Ukraine as a financially and economically stable country.

Managing Director of the International Monetary Fund Dominique Strauss-Kahn expressed his position at the Global Forum on Competition of the Organization for Economic Cooperation and Development (OECD), involving a Ukrainian delegation headed by Acting Head of the Antimonopoly Committee Oleksandr Melnychenko.

The committee’s press service said that the international competitive community had supported Ukraine’s idea of obtaining the observer status at the OECD Competition Committee.

In particular, Melnychenko held talks with Head of the U.S. Federal Trade Commission William Kovacic regarding the deepening of cooperation between their agencies.

They also agreed to hold a joint international conference in Ukraine this year dedicated to the development of competition in the gas market.

UKRINFORM

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Merkel: Ukraine forced to be between EU and Russia

Posted by the Editor on February 27, 2009


News / 27 February 2009 | 13:20

Merkel: Ukraine forced to be between EU and Russia

Ukraine’s long-term perspective depends on building partnership and strategic relations with Russia, supposes a Chancellor of Germany Angela Merkel. She claimed that speaking with foreign reporters in Berlin,  Mignews.com.ua informed.

According to the Federal Chancellor, due to geographic position, Ukraine is forced to be situated between the European Union (EU) and Russia.

Touching on a question of relations between Ukraine and Russia, she noted also a crisis in domestic policy. According to Angela Merkel, political situation has been difficult in Ukraine yet and it is hard for authorities to make decisions.

According to the Chancellor of Germany, Ukraine is in Germany’s sphere of interest. As for EU, Ukraine joins a group of the Eastern Partnership states. A special EU summit on Eastern policy is scheduled at May, 7, she reported. A question of relations with Ukraine and rendering assistance for overcoming economic crisis will be discussed there, reports Ukrainskaya Pravda with reference to Deutsche Welle.

As known, besides, authorities are planning to hold a conference devoted to Ukraine’s gas and transport system modernization involving the EU representatives on 23 of March in Brussels.

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Ukraine asks Gazprom to reduce gas supplies

Posted by the Editor on February 27, 2009


News / 27 February 2009 | 12:30

Ukraine asks Gazprom to reduce gas supplies

Ukraine asks Gazprom to reduce gas supplies

Ukraine’s national oil and gas company Naftogaz has asked Russia’s Gazprom to reduce natural gas supplies to the country from the contracted 40 billion cu m to 33 billion this year, a presidential energy aide said on Thursday.

The debt-laden company wants changes to the January 19 deal that led to the restart of gas supplies to Europe and Ukraine, which Gazprom suspended on January 1 over a gas pricing and debt dispute with its former Soviet neighbor.

Naftogaz cited a clause in the contract that allows it to increase or reduce by 20% the amount of gas it buys.

Bohdan Sokolovskiy acknowledged that changes to the contract should be agreed at least six months ahead of the start of a year, but stressed the deal signed on January 19 was far form ideal and had been signed without any specialist consideration.

Gazprom said on Thursday it had received the request from Naftogaz.

Earlier this month, Naftogaz warned it might face problems paying for gas supplied by the Russian gas monopoly as Ukrainian utility companies were delaying payments leaving the state-run gas firm short of funds.

Russian media reports said, citing sources in Gazprom that the monopoly could again cut off Ukraine if $400 million was not transferred by March 7.

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EU countries ready to back Ukraine on its Eurointegration path

Posted by the Editor on February 27, 2009


News / 27 February 2009 | 11:40

EU countries ready to back Ukraine on its Eurointegration path

he EU member-sates are ready to support Ukraine on its path towards European integration, State Secretary of Hungary’s Foreign Affairs Ministry Jeno Faller addressed the 3rd Europe-Ukraine Forum in Kyiv, Ukrinform reported.

“The EU members are ready to back the partners on the eastern border to improve economic and political processes in Ukraine. We are ready to focus all efforts to intensify Ukraine’s integration with Europe. The Eastern Partnership will take all efforts Ukraine will not be able to refuse from. Much in this matter depends on our Ukrainian partners as well,” Jeno Faller claimed.

For his part, Bernard Felderer, Director of the Institute for Advanced Studies (Austria), stressed “In the event of significant problems in Ukraine the EU will surely give a hand. As, for example, it was done in Hungary. The funds of the International Monetary Fund will be attracted in particular. Assistance is being now prepared for another two-three countries. In case of serious troubles the EU will have to help those countries that are non-EU members, but they are close neighbors. Ukraine, in particular. If the situation stabilizes in that country, this will lead to a greater stabilization of the wider region”.

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